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This excerpt taken from the AN DEF 14A filed Mar 23, 2009. Restrictive
Covenant Agreements
Our named executive officers have entered into restrictive
covenants and other obligations as contained in various
stock-based award agreements, confidentiality,
non-solicitation/no-hire and non-compete agreements, and other
similar agreements with us in connection with employment or the
grant of stock-based awards. Generally, these restrictive
covenants provide a restriction of one (1) year in which
the named executive officer may not perform certain activities
within specified geographic regions. The competitive activities
include generally (i) participating or owning an interest
in an entity engaged in the auto business (as defined in the
applicable agreement) or any other business of the type and
character engaged by us, (ii) employing any person that was
employed by us within the prior six (6) months or seeking
to induce any such person to leave his or her employment,
(iii) soliciting any customer to patronize any business in
competition with our business, or (iv) requesting or
advising our
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customers or vendors to withdraw, curtail, or cancel their
business with us. In certain cases, the receipt of
post-termination payments by our named executive officers is
conditioned upon their compliance with these restrictive
covenants.
This excerpt taken from the AN DEF 14A filed Mar 27, 2008. Restrictive
Covenant Agreements
Our named executive officers have entered into restrictive
covenants and other obligations as contained in various stock
option agreements, confidentiality, non-solicitation/no-hire and
non-compete agreements, and other similar agreements with us in
connection with employment or the grant of stock options.
Generally, these restrictive covenants provide a restriction of
one (1) year in which the named executive officer may not
perform certain activities within specified geographic regions.
The competitive activities include generally
(i) participating or owning an interest in an entity
engaged in the auto business (as defined in the applicable
agreement) or any other business of the type and character
engaged by us, (ii) employing any person that was employed
by us within the prior six (6) months or seeking to induce
any such person to leave his or her employment,
(iii) soliciting any customer to patronize any business in
competition with our business, or (iv) requesting or
advising our customers or vendors to withdraw, curtail, or
cancel their business with us. In
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certain cases, the receipt of post-termination payments by our
named executive officers is conditioned upon their compliance
with these restrictive covenants.
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