I was reviewing a contract before signing and found this clause:
4.1 Subject to clause 4.3, during the course of your employment you shall not, except as a representative of the Company or with the prior written approval of your Line Manager and a Director, whether paid or unpaid, be directly or indirectly engaged, concerned or have any direct financial interest in any capacity in any other business, trade, profession or occupation (or the setting up of any business, trade, profession or occupation).
I have queried about this clause (standard conflict of interest clause seems more appropriate than this which I believe is excessive) and I was told that this only applies to "core working hours" (somehow including holidays/leave) and anything I do out of that time does not fall under this clause.
I am concerned because, to me, this clause doesn't say anything about time, it just says "during the course of your employment", which essentially means "24/7 from the start of your employment until the end"
Can anyone confirm one way or the other?
Although not directly relevant to my question, here's the rest of clause 4:
4.2 Notwithstanding clause 4.1, you may hold an investment by way of shares or other securities of not more than 5% of the total issues share capital of any company (whether of not it is listed or dealt in on a recognised stock exchange) where such company does not carry on a business similar to or competitive with any business for the time being carried on by the Company.
4.3 You agree to disclose to the Company any matters relating to your spouse or civil partner which may, in the reasonable opinion of the Company, be considered to interfere, conflict or compete with the proper performance of your obligations under this agreement.