Non-Compete Agreement - free template for businesses

NON-COMPETE AGREEMENT

This Non-Compete Agreement [the "agreement"] is entered into between [company name] having its principal place of business located at [company address] [the "company"] and [employe name] (the "Employee"), residing at [employee address]on [effective date] [the "effective date"].

WHEREAS, the Employee and the Company have entered into an agreement whereby the Employee is expected to perform the general duties related to their position as [employee job title]; and

WHEREAS, the Employee agrees that the restrictions contained in this Agreement are legally binding.

THEREFORE, pursuant to the mutual promises and covenants made by the parties thereto, the Company and the Employee (individually referred to as "Party" and collectively as "Parties") agree to be bound by the following terms:

Acknowledgment of Relationship

Both parties hereby agree and acknowledge that this Agreement is made in consideration of the promises agreed to in the Employee Contract Agreement.

Non-Competition

For the entire duration of the Employee Contract Agreement or any subsequent agreement executed for that similar purpose, and for 12 months after the termination thereof, the Employee will not work as an employee, officer, operator, director, manager, partner, consultant, representative, agent, owner or engage in any other capacity in any direct or indirect competition with the Company.

Non-Solicitation

The Employee further agrees not to solicit any Company employee to leave his/her employ with the Company, either directly or indirectly, or solicit the business of any Company client or customer, partner, agent or consultant.

Employee Acknowledgment

The Employee acknowledges that:

This Agreement has explicitly been bargained between the parties, and that the Employee has been provided with the opportunity to negotiate this Agreement;

The Employee has had the opportunity to seek legal counsel before signing this Agreement;

That the imposed restrictions are considered fair, reasonable, and necessary to protect the Company's legitimate business interests; and

That these restrictions, prohibitions, and other provisions of this Agreement, including but not limited to the restricted duration and territory, are reasonable and do not constitute an undue burden or threat to the Employee's livelihood.

Representations and Warranties

Both parties represent that they have the authorization to enter into this Agreement and that the performance of their obligations will not violate or infringe upon the third-party rights or violate any other agreement between the parties or any law or government regulation.

Legally Binding

This Non-compete Agreement shall be binding upon and inure to the parties' benefit and their representative legal representatives, administrators, executors, successors, and permitted assigns.

Notice

Any notice or correspondence made by any party under this Agreement shall be in writing and delivered by recorded delivery.

Severability

If any provision of this Agreement is deemed invalid or unenforceable under any applicable law, in whole or in part. In that case, that invalid or unenforceable part shall be severed from the remainder of the Agreement. All other provisions contained in the Agreement shall continue in full force and effect as valid and enforceable.

Waiver

The failure by either of the parties to exercise any right under the terms hereof shall not in any way be construed as a waiver of any further exercise of that right or any other right under this Agreement unless such waiver is expressly made in writing.

Entire Agreement

Both parties agree that this Agreement represents the entire Agreement between the parties and supersedes and annuls all prior agreements and understandings between them.

Amendment

If the Parties desire to amend or otherwise modify any terms of this Agreement, they shall do so expressly in writing to be signed by both parties.

Governing Law & Jurisdiction

This Agreement and its interpretation shall be governed by and construed under the relevant laws of [state or country], not including its conflict of law provisions.

All disputes arising thereof shall be subject to the exclusive jurisdiction of the courts located in [state or country]. The arbitration shall be conducted by the [arbitral institution], and all parties shall be bound by the rules of arbitration and any award or decision rendered.

IN WITNESS WHEREOF, both parties under this Agreement hereby agree to the terms contained herein and give their consent and authority by signing this Non-Compete Agreement below.