For a period of twelve (12) months following the Employee's last day of employment, the Employee shall not, directly or indirectly, own, manage, operate, consult for, or be employed by any business that competes with the Company within the financial technology sector, specifically including firms engaged in digital payments infrastructure, embedded banking, real-time settlement, card issuance, or consumer lending platforms.
The restrictions set forth in Section 1 apply within a fifty (50) mile radius of the Company's principal office at 501 Congress Avenue, Austin, Texas, as well as any metropolitan area in which the Employee performed material work on behalf of the Company during the final twenty-four (24) months of employment.
Without limiting the generality of Section 1, the following entities and their affiliates are expressly identified as Direct Competitors for the duration of the Restricted Period:
During the Restricted Period, the Employee shall not solicit, recruit, or induce any current employee, contractor, or customer of the Company with whom the Employee had material contact during the final twelve (12) months of employment. This restriction extends to passive outreach conducted through intermediaries or recruiting firms.
Nothing herein shall prevent the Employee from (a) accepting employment with a non-competing business, including enterprise SaaS, healthcare technology, or infrastructure companies outside the fintech vertical; (b) holding passive investments of less than one percent (1%) in publicly traded securities; or (c) contributing to open-source projects not directly tied to competing commercial offerings.
The Employee acknowledges that the restrictions are reasonable in scope, duration, and geography, and are supported by adequate consideration including continued access to confidential information during employment and the separation payments described in the Severance Letter dated March 14, 2025.
The Employee agrees that a breach of this Agreement would cause irreparable harm for which monetary damages would be inadequate, and the Company shall be entitled to seek injunctive relief in addition to any other remedies available at law or in equity, including recovery of reasonable attorneys' fees.