Competition provision Sample Clauses

Competition provision. Provisions in employment contracts that forbid employees to enter into an employment contract with the competitors of employees by competitors of the employer are non- binding if such an engagement is wider in scope than would be necessary in order to prevent competition or to limit in an unfair manner the employee’s freedom to employment. To determine wheter this is the case, each case must be evaluated on a case-by-case basis, taking into consideration all circumstances. Competition provisions may not be worded too generally. When assessing how far-reaching competition provisions in an employment contract may be, particularly as regards their scope of application and the time limits involved, the following factors must be considered:
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Competition provision. For a period of three (3) years following the Closing Date:
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Competition provision. Provisions in employment contracts that prohibit employees from working for their employers’ competitors are non-binding if such provisions are broader than is necessary to prevent competition or if they restrict the employees’ freedom of employment in an unfair manner. In either case, such provisions must be evaluated on a case-by-case basis with consideration to all relevant factors. Competition provisions should therefore not be worded too generally. In assessing the breadth of an employment contract’s competition provision, particularly in terms of the scope of application and time limits, the following factors must be taken into consideration:
Sample 1

Related to Competition provision

  • Confidentiality and Non-Competition To the Company’s knowledge, no director, officer, key employee or consultant of the Company is subject to any confidentiality, non-disclosure, non-competition agreement or non-solicitation agreement with any employer or prior employer that could reasonably be expected to materially affect his ability to be and act in his respective capacity of the Company or be expected to result in a Material Adverse Change.

  • Non Competition Non Solicitation and Confidentiality The Company and Executive acknowledge and agree that while Executive is employed pursuant to this Agreement, the Company will give Executive access to Confidential Information of the Company and its Affiliates to which Executive did not have access prior to signing this Agreement and which Executive may need and use during such employment, the receipt of which is hereby acknowledged by Executive; Executive will be provided under this Agreement (i) specialized training on how to perform his duties and (ii) contact with the Company’s and its Affiliates’ customers and potential customers. In consideration of all of the foregoing, the Company and Executive agree as follows:

  • Non Competition and Confidentiality The Executive agrees that:

  • Non-Competition To further preserve the rights of Company pursuant to Section 8 above, and for the consideration promised by Company under this Agreement, including, without limitation, the Term of employment, during Executive’s employment with Company and for a period of one (1) year thereafter, regardless of the reason for termination of employment, Executive will not, directly or indirectly, as an owner, director, principal, agent, officer, employee, partner, consultant, servant, or otherwise, carry on, operate, manage, control, or become involved in any manner with any business, operation, corporation, partnership, association, agency, or other person or entity which is in the same business as Company in any location in which Company, or any subsidiary or affiliate of Company, operates or has plans or has projected to operate or does business during Executive’s employment with Company. The foregoing shall not prohibit Executive from owning up to 5.0% of the outstanding stock of any publicly held company. Notwithstanding the foregoing, after Executive’s employment with Company has terminated, upon receiving written permission by the Board or its designee, Executive shall be permitted to engage in such competing activities that would otherwise be prohibited by this covenant if such activities are determined in the sole discretion of the Board or its designee in good faith to be immaterial to the operations of Company, or any subsidiary or affiliate of Company. To further preserve the rights of Company pursuant to Section 8 above, and for the consideration promised by Company under this Agreement, not to include any Severance Payment, during the term of Executive’s employment with Company and for a period of one (1) year thereafter, regardless of the reason for termination of employment, Executive will not, directly or indirectly, either for himself or for any other business, operation, corporation, partnership, association, agency, or other person or entity, call upon, compete for, solicit, divert, or take away, or attempt to divert or take away current or prospective customers (including, without limitation, any customer with whom Company, or any subsidiary or affiliate of Company, (i) has an existing agreement or business relationship; (ii) has had an agreement or business relationship within the six-month period preceding Executive’s last day of employment with Company; or (iii) has been included as a prospect by Company, or any subsidiary or affiliate of Company. Company and Executive agree that the restrictions contained in this noncompetition covenant are reasonable in scope and duration and are necessary to protect Company’s business interests and Confidential Information. If any provision of this noncompetition covenant as applied to any party or to any circumstance is adjudged by a court or arbitrator to be invalid or unenforceable, the same will in no way affect any other circumstance or the validity or enforceability of this Agreement. If any such provision, or any part thereof, is held to be unenforceable because of the scope, duration, or geographic area covered thereby, the Parties agree that the court or arbitrator making such determination shall have the power to reduce the scope and/or duration and/or geographic area of such provision, and/or to delete specific words or phrases, and in its reduced form, such provision shall then be enforceable and shall be enforced. The Parties agree and acknowledge that the breach of this noncompetition covenant will cause irreparable damage to Company, and upon breach of any provision of this noncompetition covenant, Company shall be entitled to injunctive relief, specific performance, or other equitable relief; provided, however, that this shall in no way limit any other remedies which Company may have (including, without limitation, the right to seek monetary damages). Should Executive violate the provisions of this noncompetition covenant, then in addition to all other rights and remedies available to Company at law or in equity, the duration of this covenant shall automatically be extended for the period of time from which Executive began such violation until he permanently ceases such violation.

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