iHeartMedia 2003 Annual Report Download - page 146

them, provided to or created by him during the course of his employment with the
Company. This nondisclosure covenant is binding on the Employee, as well as his
heirs, successors, and legal representatives, and will survive the termination
of this Agreement for any reason.
5. NONHIRE OF COMPANY EMPLOYEES.
To further preserve the rights of the Company pursuant to the
nondisclosure covenant discussed above, and for the consideration promised by
the Company under this Agreement, during the term of the Employee’s employment
with the Company and for a period of twelve months thereafter, regardless of the
reason for termination of employment, the Employee will not, directly or
indirectly, (i) hire any current or prospective employee of the Company, or any
subsidiary or affiliate of the Company (including, without limitation, any
current or prospective employee of the Company within the 6-month period
preceding the Employee’s last day of employment with the Company or within the
12-month period of this covenant) who worked, works, or has been offered
employment by the Company; (ii) solicit or encourage any such employee to
terminate their employment with the Company, or any subsidiary or affiliate of
the Company; or (iii) solicit or encourage any such employee to accept
employment with any business, operation, corporation, partnership, association,
agency, or other person or entity with which the Employee may be associated. If,
during the term of this non-hire covenant, the Employee learns that any such
employee has accepted employment with any business, operation, corporation,
partnership, association, agency, or other person or entity with which the
Employee may be associated (other than the Company), the Employee will
immediately send notice to the Company identifying the employee and certifying
that the Employee did not breach any provision of this non-hire covenant.
6. NON-COMPETITION.
To further preserve the rights of the Company pursuant to the
nondisclosure covenant discussed above, and for the consideration promised by
the Company under this Agreement, during the Employee’s employment with the
Company and for a period of one year thereafter, regardless of the reason for
termination of employment, the Employee will not, directly or indirectly, as an
owner, director, principal, agent, officer, employee, partner, consultant,
servant, or otherwise, carry on, operate, manage, control, or become involved in
any manner with any business, operation, corporation, partnership, association,
agency, or other person or entity which is in the same business as the Company
in any location in which the Company, or any subsidiary or affiliate of the
Company, operates or has plans or has projected to operate during the Employee’s
employment with the Company, including any area within a 50-mile radius of any
such location. The foregoing shall not prohibit the Employee from owning up to
5.0% of the outstanding stock of any publicly held company. Notwithstanding the
foregoing, after the Employee’s employment with the Company has terminated, upon
receiving written permission by the Board, the Employee shall be permitted to
engage in such competing activities that would otherwise be prohibited by this
covenant if such activities are determined in the sole discretion of the Board
in good faith to be immaterial to the operations of the Company, or any
subsidiary or affiliate of the Company, in the location in question.
To further preserve the rights of the Company pursuant to the
nondisclosure covenant discussed above, and for the consideration promised by
the Company under this Agreement, during the term of the Employee’s employment
with the Company and for a period of one year thereafter, regardless of the
reason for termination of employment, the Employee will not,
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