NON-COMPETITION AGREEMENT
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This Agreement is entered into between MIT, LLC (aka Money in Training and
aka Millionaires in Training) and Xxxxx Xxxxx, individually and in his capacity
as CEO of Online Investor's Advantage ("Contractor"), effective this 8 day of
March, 2000.
1. Contractor Shall Not Contact MIT's Distribution Channels.
MIT and Contractor have agreed that Contractor shall be permitted to make
product and informational presentations at events sponsored by MIT and by MIT in
affiliation with other companies ("Events"), including Xxxxx Xxxx International,
Professional Seminars of America, Xxxxx Xxxxx, Knightingale Xxxxxx, and other
distribution channels of MIT identified hereafter ("Distribution Channels"). The
terms under which Contractor shall be permitted to make presentations at Events
are set forth in a separate agreement, a copy of which is attached hereto or
will be attached hereto as Exhibit A. However, the terms and conditions of this
Agreement shall not be conditioned upon the execution or finalization of any
such separate agreement.
2. Contractor Shall Not Contact MIT's Content Providers.
As partial consideration for MIT's agreement to permit Contractor to make
presentations at Events, Contractor covenants and agrees that he/she/it will not
engage in any business with any of MIT's Distribution Channels as identified
herein or as may be subsequently identified by the parties hereto, or with any
of MIT's content provider companies such as Professional Seminars of America or
other companies that may be identified hereafter ("Content Providers"), nor
shall Contractor undertake to solicit business from, offer services or products
to, or make any contact with Distribution Channels or Content Providers except
through MIT and upon terms and conditions approved by MIT, from the date hereof
and continuing until three (3) years following the last presentation made by
Contractor at an Event.
3. Contractor Shall Not Make Unauthorized Use of MIT Information.
Contractor covenants and agrees that from the date hereof and continuing
until three (3) years following the last presentation made by Contractor at an
Event, Contractor shall not duplicate, take possession of, use, paraphrase or
appropriate any information presented or provided by MIT or its Distribution
Channels or Content Providers, without the express written authorization and
consent of MIT and the affected Distribution Channel or Content Provider.
4. Contractor Shall Not Infringe On MIT's Seminal Topics.
Contractor covenants and agrees that from the date hereof and continuing
until three (3) years following the last presentation made by Contractor at an
Event, Contractor shall not make any commercial presentation at any seminar or
other event, or in any setting attended by more than three persons, of products
or services connected with or pertaining to the topics of Asset. Protection,
Estate Planning, Tax Reduction without the express written authorization and
consent of MIT.
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5. Contractor Shall Not Use or Disclose Customer Lists of MIT or Distribution
Channels.
Contractor acknowledges and agrees that all names and lists of attendees or
invitees to Events (and any revenue derived therefrom) are the property of MIT
or its Distribution Channels and Content Providers. Contractor covenants and
agrees that it shall not attempt to acquire such names or lists and shall not
appropriate record, duplicate, telemarket, use or disclose to any other person
such names and lists, without the express written authorization and consent of
MIT and upon the teams and conditions set forth in such authorization or
consent. Nothing in this Agreement is intended, or shall be construed, to grant
to Contractor any license or other rights to use MIT's information as described
in Paragraphs 3, 4. and 5 herein, or any rights under any trademark patent, or
copyright of MIT or its Distribution Channels, or Content Providers.
6. Contractor Shall Be Enjoined From Violation of This Agreement.
Contractor acknowledges that the covenants and agreements contained in this
Agreement are required for the protection of the value of MIT's assets,
trademarks, copyrights. trade secrets, systems, processes and ideas and relate
matters which are of a special, unique and extraordinary character which give
them substantial value and further acknowledges and agrees that MIT may not be
able to be reasonably or adequately compensated in damages for breach of the
covenants and conditions contained in this Agreement and that, in addition to
any other relief in law or in equity to which MIT may be entitled. MIT shall
have the right to immediate injunctive relief to enforce the specific
performance of such covenants and agreements and shall be entitled to such
relief from a court of competent jurisdiction upon ex pane motion for the same,
without notice to Recipient.
7. Intentionally deleted.
8. Contractor Shall Pay all Costs of Enforcement if They Violate This Agreement.
The prevailing party to any claim or action commenced to enforce or
interpret the terms and provisions of this Agreement shall be entitled to its
reasonable attorneys' fees and costs, including expenses such as photocopying,
expert witness fees, long distance telephone tolls, reasonable travel expenses
and other out-of-pocket expenses incurred as a direct cost of the enforcement
effort.
9. Individuals are Bound by This Agreement.
The additional undersigned representing the Contractor agrees to be bound
in his/her individual capacity to the terms contained herein.
MIT, LLC Online Investors Advantage Contractor
By ________________________ By: /S/ Xxxxx Xxxxx
Managing Member By Xxxxx Xxxxx
Its CEO
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