Common use of Obligation of Loyalty to Employer Clause in Contracts

Obligation of Loyalty to Employer. During the term of employment by Employer, Employee agrees that he will not: (a) Make a statement or perform any act intended to advance an interest of any existing or prospective competitor of the Employer in any way; that will or may injure the Employer in any way; or solicit or encourage any other employee of Employer to do any such act; (b) Inform any existing or potential customer, supplier or creditor of the Employer that Employee intends to resign; or make any statement or do any act intended to cause any existing or potential customer, supplier or creditor of Employer to learn of Employee’s intention to resign; or (c) Discuss with any existing or potential customer, supplier or creditor of the Employer the present or future availability of services provided by a business that competes with or where such services are competitive with services that the Employer provides. Employee agrees that he will during his term of employment offer to Employer any new concept or revenue generating ideas or businesses both those related to the event or entertainment arenas, only in the event of rejection by the Employer shall Employee have the right to development of the new concept outside of his scope of duties and without harming in any fashion his obligation to the Employer. Employee shall not use Employer assets or concepts developed though innovation at the Employer without the permission of the Employer.