Download Standard Non Compete Agreement Of Ex Owner for Free

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© 2007 Arch Capital Advisors. All Rights Reserved.
THIS AGREEMENT is made by and between each of _________________, ______________
and _____________ (each, a "Key Stockholder" and collectively, the "Key Stockholders") and
_________________, a ________________ corporation (the "Purchaser").
WHEREAS, pursuant to that certain Agreement between __________________, (the "Company"),
Purchaser and the Key Stockholders dated ____________ (the "Agreement"), the Key Stockholders
agreed to enter into a Non-Competition Agreement as a condition to Purchaser’s obligations under
the Agreement; and
NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein,
the Purchaser and the Key Stockholders agree as follows:
1. Restrictive Covenant.
a. No Competition. Each Key Stockholder agrees for a period of ________
(__) years following the date hereof (the "Non-Compete Period") that he
shall not directly or indirectly, either individually or with others, engage or
have any interest, as an owner, employee, representative, agent, consultant
or otherwise, in any business which is similar to the business conducted by
the Company. These covenants shall be deemed separate covenants for
each and every state, country and any other governmental entity covered
by the non-compete obligation and in the event the covenant for one or
more such jurisdictions is determined to be unenforceable the remaining
covenants shall continue to be effective. These covenants are not intended
to prevent any Key Stockholder from using his general knowledge,
experience, skill and know-how in a manner that is not competitive,
provided the Key Stockholder does not use, disclose, divulge or
communicate any Confidential Information (as hereinafter defined).
b. No Hiring of Others. Further, each Key Stockholder agrees that during
such Non-Compete Period, he shall not solicit nor employ any person who
is employed by the Purchaser or the Company during the Non-Compete
c. No Solicitation. Each Key Stockholder further agrees that during such
Non-Compete Period he shall not solicit the Purchaser’s or the Company’s
customers on behalf of him or any other business or entity in competition
with the business then conducted by the Purchaser or the Company.
2. Confidential Information.
a. Definition. For purposes of this Paragraph 2, the term "Confidential
Information" means, in addition to its meaning under applicable law,
information which is not generally known in the Company’s and/or the
Standard Non Compete Agreement Of Ex Owner
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