EXHIBIT 10.35 NON-COMPETE AND NON-SOLICIT AGREEMENT DATED 05/12/2007NonCompetition Agreement |
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Non-Compete and Non-Solicit Agreement
FOR GOOD AND VALUABLE CONSIDERATION, including the
award of Restricted Stock Units, as more fully described in
the accompanying letter (10% of which will be fully vested
upon grant), hereby acknowledged, First Albany Companies,
Inc. and its subsidiaries (“First Albany”) and
its employee who is a signatory hereto (the “Key
Employee Partner”) (First Albany and the Key Employee
Partner being referred to, collectively, as the
“Parties”) agree as follows:
1. Non-Compete Covenant . Prior to December 31,
2008, the Key Employee Partner shall not participate in the
ownership, management, operation or control of a Competitor
*
or be employed by or perform services for a Competitor in a
position substantially similar to the Key Employee’s
position at the Company; provided , however ,
that the Key Employee Partner may own, solely as a passive
investment, securities of any entity traded on any national
securities exchange if the Key Employee Partner is not a
controlling person of (nor owns individually or as a member
of a group, 5% or more of) such entity.
2. Non-Solicit Covenant . In the event that the
employment of the Key Employee Partner with the Company
terminates for any reason, then until the later of (i) twelve
months after such termination or (ii) December 31, 2008, the
Key Employee Partner shall not, directly or indirectly,
solicit for employment or hire anyone who was an employee of
the Company within the period of 180 days prior to any
termination.
3. Inapplicability of Non-Compete Covenant in
Certain Circumstances . The foregoing Non-Compete
Cove
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