Common use of Secrecy Agreement Clause in Contracts

Secrecy Agreement. The Employee recognizes that during his employment, he may receive, develop, or otherwise acquire trade secrets of the Company that are of a secret or confidential nature. The Employee acknowledges that the trade secrets of the Company are secret, confidential, unique, and valuable, were developed by the Company, including any of its parents, subsidiaries or predecessors, at great cost and over a long period of time, and that disclosure of any of the trade secrets to anyone other than the Company's officers, agents, or authorized employees will cause the Company irreparable injury. The Employee will regard and preserve as secret and confidential all trade secrets pertaining to the Company's business that have been or may be obtained by him by reason of employment. The Employee shall not, without prior express written authorization from an officer of the Company to do so, use for his own benefit or purposes, nor disclose to others for their benefit or purposes, either during his employment with the Company or thereafter, except as may be required in the regular course of his employment with the Company, any trade secret or other confidential or proprietary information connected with the business or developments of the Company. Further, upon termination of employment for any reason, the Employee agrees not to take or retain or copy any trade secret or other confidential or proprietary information connected with the business or developments of the Company, including but not limited to, the Company's formulas, patterns, programs, devices, compilations of information, methods, techniques, processes, drawings, cost data, or customer lists. Should the Company currently be a party to or at any time in the future enter into, an agreement with another company (the "Outside Company") for the purpose of research and development or any other purpose which might cause the Outside Company to make known to the Company or the Employee information, data, developments, or trade secrets which the Outside Company regards as valuable and of a confidential nature, the Employee agrees that such information and any inventions which pertain to or stem from knowledge of such information are subject to all terms and conditions of this Agreement. It is the intent of the parties hereto that the Employee's agreement to not disclose or use any confidential or secret information made known by the Outside Company is for the benefit of the Outside Company, as well as, the Company, and the Outside Company may use whatever remedy is available to it for the enforcement of this provision.