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Noncompete

The document provides two sample noncompete agreements between an employer and employee. The first agreement prohibits the employee from disclosing trade secrets or confidential information during and after employment. It also prevents the employee from competing with the company within a certain radius for a set number of years after leaving. The second agreement is part of an employee handbook and similarly prevents disclosure of trade secrets after employment, as well as prohibits using research for a competitor or starting a competing business within a certain radius for a period of time. Both agreements stipulate liquidated damages if the noncompete terms are violated.

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77 views1 page

Noncompete

The document provides two sample noncompete agreements between an employer and employee. The first agreement prohibits the employee from disclosing trade secrets or confidential information during and after employment. It also prevents the employee from competing with the company within a certain radius for a set number of years after leaving. The second agreement is part of an employee handbook and similarly prevents disclosure of trade secrets after employment, as well as prohibits using research for a competitor or starting a competing business within a certain radius for a period of time. Both agreements stipulate liquidated damages if the noncompete terms are violated.

Uploaded by

SirVicNY
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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SAMPLE NONCOMPETE AGREEMENTS

Example 1: Noncompete agreement.

Nondisclosure and Noncompetition. (a) At all times while this agreement is in force and after its expiration or
termination, [employee name] agrees to refrain from disclosing [company name]’s customer lists, trade secrets, or
other confidential material. [Employee name] agrees to take reasonable security measures to prevent accidental
disclosure and industrial espionage.
(b) While this agreement is in force, the employee agrees to use [his/her] best efforts to [describe job] and to abide
by the nondisclosure and noncompetition terms of this agreement; the employer agrees to compensate the employee
as follows: [describe compensation]. After expiration or termination of this agreement, [employee name] agrees not
to compete with [company name] for a period of [number] years within a [number] mile radius of [company name
and location]. This prohibition will not apply if this agreement is terminated because [company] violated the terms
of this agreement.
Competition means owning or working for a business of the following type: [specify type of business employee may
not engage in]
(c) [Employee name] agrees to pay liquidated damages in the amount of $[dollar amount] for any violation of the
covenant not to compete contained in subparagraph (b) of this paragraph.
IN WITNESS WHEREOF, [company name] and [employee name] have signed this agreement.
_____________________________________
[company name]
_____________________________________ ____________________________________
[employee’s name] Date

Example 2: Noncompete agreement that is part of an employee handbook.

Nondisclosure and Noncompetition. (a) After expiration or termination of this agreement, [employee name]
agrees to respect the confidentiality of [company name] patents, trademarks, and trade secrets, and not to disclose
them to anyone.
(b) [Employee name] agrees not to make use of research done in the course of work done for [company name]
while employed by a competitor of [company name]
(c) [Employee name] agrees not to set up in business as a direct competitor of [company name] within a radius of
[number] miles of [company name and location] for a period of [number and measure of time (e.g., “four months” or
“10 years”)] following the expiration or termination of this agreement.
(d) [Employee name] agrees to pay liquidated damages of $[dollar amount] if any violation of this paragraph is
proved or admitted.
IN WITNESS WHEREOF, [company name] and [employee name] have signed this agreement.
___________________________________________
[company name]
___________________________________________ ____________________________
[employee name] Date

Complied information gathered from various sources. ITCS, University of Minnesota-Twin Cities.

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