Non-Compete Agreement Contract Clauses (23)

Non-Compete Agreement. a) Recognizing that the various items of Information are special and unique assets of Client that need to be protected from disclosure, and in consideration of the disclosure of the Information, Consultant agrees and covenants that for a period of Five ( 5) years following the termination of this Agreement, whether such termination is voluntary or involuntary, Consultant will not directly or indirectly engage in any business competitive with Client. This covenant shall apply to the geographical ...area that includes any region in which Client is conducting business. Directly or indirectly engaging in any competitive business includes, but is not limited to, (i) engaging in a business as owner, partner, or agent, (ii) becoming an employee of any third party that is engaged in such business, or (iii) becoming interested directly or indirectly in any such business, or (iv) soliciting any customer of Client for the benefit of a third party that is engaged in such business. Consultant agrees that this non-compete provision will not adversely affect the livelihood of Consultant. b) Recognizing that the various items of Information are special and unique assets of Consultant that need to be protected from disclosure, and in consideration of the disclosure of the Information, Client agrees and covenants that for a period of Five ( 5) years following the termination of this Agreement, whether such termination is voluntary or involuntary, Client will not directly or indirectly solicit any Source for the purpose of providing funding for the benefit of any third party. Client agrees that this non-compete provision will not adversely affect the livelihood of Client. View More

Non-Compete Agreement. The offer contained in this Letter Agreement is conditioned upon your execution of the Non-Compete Agreement for Company executives attached as Exhibit B hereto (the "Non-Compete Agreement ").

Non-Compete Agreement. Devine agrees and covenants that for a period of two years following the Termination Date, he will not directly or indirectly engage in any competitive Underwater Exploration Business. For purposes of this Agreement, Parties agree that Underwater Exploration is defined as and explicitly limited to cargo recovery from shipwrecks of World War II or earlier and underwater mineral exploration of Phosphate, Seafloor Massive Sulfides and Polymetallic nodules. Directly or indirectly engaging in any com...petitive Underwater Exploration Business includes, but is not limited to, (i) engaging in such business as owner, partner, or agent, (ii) becoming a Consultant of any third party that is engaged in such business, (iii) becoming interested directly or indirectly in any such business, or (iv) soliciting any customer of Odyssey for the benefit of such business. Devine agrees that: (a) his 3 covenants in this paragraph are reasonable and survive the term of this Agreement; (b) that there are legitimate business interests justifying his covenants contained in this paragraph, including trade secrets and valuable confidential business information, substantial relationships with customers, extraordinary training and customer goodwill; (c) his covenants are reasonably necessary to protect the legitimate business interests justifying the covenants; and (d) any profit made by such competitive underwater exploration business in which Devine has engaged shall be presumed to have been made by Odyssey, but for the violation of this paragraph by Devine. View More