This Non-Compete Agreement is between a company and an employee. This agreement in effect sets out that employee agrees not to engage or participate in another company’s business which directly competes with present employer. It also sets forth the right to discharge employee if the terms are not complied with and the right to recover damages. This Non-Compete Agreement must be signed by the employer and accepted and agreed to by the employee.
NON-COMPETE AGREEMENT
THIS NON COMPETE AGREEMENT (the "Agreement"), made on this _____ day of _____________, 20 ___________ by and between _____________________________________________________ of _______________________________________________________________ (the "Company"), and _________________________________________________ of ______________________________ (the "Employee").
In consideration of the mutual promises and agreements contained herein, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows:
NON-COMPETITION
Employee hereby acknowledges and agrees that, for a period of _____ year, the Employee shall not (i) engage or participate in, directly or indirectly whether as an officer, director, employee, partner, consultant, or in any other manner or capacity in any ________________________ business which is, or as a result of the Employee's engagement or participation would become, competitive with any significant aspect of the business of the Company; (ii) solicit any officer, director, employee or agent of the Company to become an officer, director, employee or agent of the Employee, his respective affiliates or anyone else; (iii) engage in or participate in, directly or indirectly, any business conducted under any name that shall be the same as or similar to the name of the Company or any trade name used by it that is directly or indirectly competitive with the business of the Company or engaged in any related activity where the use of such name is reasonably likely to result in confusion.
VIOLATION
In the event the Employee does not comply with the terms of this Agreement, the Company reserves the right to discharge the Employee as an employee. Furthermore, the Company reserves the right to recover monetary damages from the Employee to the extent permitted by law. In the event that monetary damages are an inadequate remedy for any harm suffered by the Company as a result of a breach of this Agreement by the Employee, the Company may also seek other relief, including an order of specific performance or injunctive relief.
INDEMNIFICATION
The Employee further agree to indemnify and hold the Company harmless from any damages, losses, costs or liabilities (including legal fees and the costs) arising out of or resulting from failure of the Employee to abide by the terms of this Agreement.
ACKNOWLEDGMENT
The Employee hereby acknowledges and agrees that the terms contained in this Agreement are reasonable and necessary in all respects to protect the Company's legitimate business interests.
MISCELLANEOUS
This Agreement shall be governed by and construed in accordance with the laws of the state of ____________________________, without regard to any conflicts of laws provision thereof.
If any provision of this Agreement or any portion thereof is declared invalid, illegal, or incapable of being enforced by any court of competent jurisdiction, the remainder of such provisions and all of the remaining provisions of this Agreement shall continue in full force and effect.
Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose.
Employee acknowledges that he has read and understood the Agreement, is fully aware of its legal effect, and has entered into it freely based on his own judgment.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.
By: _________________________________
Title: _______________________________
ACCEPTED AND AGREED TO:
By: _________________________________
Name: ______________________________
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