Non-Competition Agreement Clause Example with 4 Variations from Business Contracts
This page contains Non-Competition Agreement clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Non-Competition Agreement. The Executive agrees that throughout the term of his employment, and for a period of twelve (12) months after termination or cessation of employment for any reason (except that the time period of such restrictions shall be extended by any period during which the Executive is in violation of this Section 13), Executive will not engage in, participate in, carry on, own, or manage, directly or indirectly, either for himself or as a partner, stockholder, investor, officer, director, employee, agent,... independent contractor, representative or consultant of any person, partnership, corporation or other enterprise, in any "Competitive Business" in any jurisdiction in which the Company actively conducts business. For purposes of this Section 13, "Competitive Business" means the property and casualty insurance or reinsurance business. The Executive's engaging in the following activities will not be deemed to be engaging or participating in a Competitive Business: (i) investment banking; (ii) passive ownership of less than 2% of any class of securities of a company; and (iii) engaging or participating solely in a noncompetitive business of an entity which also separately operates a business which is a "Competitive Business". The Executive acknowledges, with the advice of legal counsel, that he understands the foregoing provisions of this Section 13 and that these provisions are fair, reasonable, and necessary for the protection of the Company's business. Executive agrees that the remedy at law for any breach or threatened breach of any covenant contained in Sections 12 and 13 will be inadequate and that the Company, in addition to such other remedies as may be available to it, in law or in equity, shall be entitled to injunctive relief without bond or other security.View More
Variations of a "Non-Competition Agreement" Clause from Business Contracts
Non-Competition Agreement. The Executive agrees that throughout the term of his employment, and for a period of twelve (12) twenty-four (24) months after termination or cessation of employment for any reason reason, except in the case of a Voluntary Termination by Executive without Good Reason in which case the period of time shall be twelve (12) months, (except that the time period of such restrictions shall be extended by any period during which the Executive is in violation of this Section 13), Executive 12), he will n...ot engage in, participate in, carry on, own, or manage, directly or indirectly, either for himself or as a partner, stockholder, investor, officer, director, employee, agent, independent contractor, representative or consultant of any person, partnership, corporation or other enterprise, in any "Competitive Business" in any jurisdiction in which the Company or any of its affiliates actively conducts business. For purposes of this Section 13, 12, "Competitive Business" means the property and casualty insurance or reinsurance business. The Executive's engaging in the following activities will not be deemed to be engaging or participating in a Competitive Business: (i) investment banking; (ii) passive ownership of less than 2% of any class of securities of a company; and (iii) engaging or participating solely in a noncompetitive business of an entity which also separately operates a business which is a "Competitive Business". The Executive acknowledges, with the advice of legal counsel, that he understands the foregoing provisions of this Section 13 12 and that these provisions are fair, reasonable, and necessary for the protection of the Company's business. Executive agrees that the remedy at law for any breach or threatened breach of any covenant contained in Sections 11 and 12 and 13 will be inadequate and that the Company, Company and its affiliates, in addition to such other remedies as may be available to it, in law or in equity, shall be entitled to injunctive relief without bond or other security. Notwithstanding anything herein to the contrary, (i) if the Group Board fails to nominate and recommend Executive for election as a member of the Board at any annual shareholders 13 meeting following the expiration of the term of this Agreement or if Executive is not re-elected to the Board by the Group's shareholders at such meeting, then following such meeting the Executive shall be permitted to serve as a non-executive director of any Competitive Business, and (ii) if the Group Board fails to recognize or accept Executive's notice of retirement upon the expiration of the term of this Agreement (other than on account of a termination of Executive's employment hereunder by the Company for Cause), which recognition or acceptance shall not be unreasonably withheld, the provisions of this Section 12 shall not apply to Executive following the Executive's termination or cessation of employment upon the expiration of the term of this Agreement. To the extent Executive accepts an appointment as a non-executive director of an entity engaged in Competitive Business pursuant to subsection (i) above, Executive shall notify the Group Board of such acceptance and position and identify the entity. View More
Non-Competition Agreement. The Executive agrees that throughout the term of his employment, and for a period of twelve (12) months after termination or cessation of employment for any reason (except that the time period of such restrictions shall be extended by any period during which the Executive is in violation of this Section 13), Executive reason, he will not engage in, participate in, carry on, own, or manage, directly or indirectly, either for himself herself or as a partner, stockholder, investor, officer, directo...r, employee, agent, independent contractor, representative or consultant of any person, partnership, corporation or other enterprise, in any "Competitive Business" in any jurisdiction in which the Company actively conducts business. For purposes of this Section 13, 11, "Competitive Business" means the property "Any and casualty insurance or reinsurance business. all Therapeutic Devices treating various skin disorders such as skin cancer, keloids and psoriasis." 8 The Executive's engaging in the following activities will not be deemed to be engaging or participating in a Competitive Business: (i) investment banking; (ii) passive ownership of less than 2% of any class of securities of a company; and (iii) (ii) engaging or participating solely in a noncompetitive business of an entity which also separately operates a business which is a "Competitive Business". The Executive acknowledges, with the advice of legal counsel, that he understands the foregoing provisions of this Section 13 11 and that these provisions are fair, reasonable, and necessary for the protection of the Company's business. Executive agrees that the remedy at law for any breach or threatened breach of any covenant contained in Sections 12 and 13 will be inadequate and that the Company, in addition to such other remedies as may be available to it, in law or in equity, shall be entitled to injunctive relief without bond or other security.View More
Non-Competition Agreement. The Executive agrees that throughout the term of his employment, and for a period of twelve (12) months after termination or cessation of employment for any reason (except that the time period of such restrictions shall be extended by any period during which the Executive is in violation of this Section 13), Executive reason, he will not engage in, participate in, carry on, own, or manage, directly or indirectly, either for himself herself or as a partner, stockholder, investor, officer, directo...r, employee, agent, independent contractor, representative or consultant of any person, partnership, corporation or other enterprise, in any "Competitive Business" in any jurisdiction in which the Company actively conducts business. For purposes of this Section 13, 11, "Competitive Business" means the property "Any and casualty insurance or reinsurance business. all Therapeutic Devices treating various skin disorders such as skin cancer, keloids and psoriasis." The Executive's engaging in the following activities will not be deemed to be engaging or participating in a Competitive Business: (i) investment banking; (ii) passive ownership of less than 2% of any class of securities of a company; and (iii) (ii) engaging or participating solely in a noncompetitive business of an entity which also separately operates a business which is a "Competitive Business". The Executive acknowledges, with the advice of legal counsel, that he understands the foregoing provisions of this Section 13 11 and that these provisions are fair, reasonable, and necessary for the protection of the Company's business. Executive agrees that the remedy at law for any breach or threatened breach of any covenant contained in Sections 12 and 13 will be inadequate and that the Company, in addition to such other remedies as may be available to it, in law or in equity, shall be entitled to injunctive relief without bond or other security.View More
Non-Competition Agreement. The Executive agrees that throughout the term of his employment, and for a period of twelve (12) twenty-four (24) months after termination or cessation of employment for any reason reason, except in the case of a Voluntary Termination by Executive without Good Reason in which case the period of time shall be twelve (12) months, (except that the time period of such restrictions shall be extended by any period during which the Executive is in violation of this Section 13), Executive 12), he will n...ot engage in, participate in, carry on, own, or manage, directly or indirectly, either for himself or as a partner, stockholder, investor, officer, director, employee, agent, independent contractor, representative or consultant of any person, partnership, corporation or other enterprise, in any "Competitive Business" in any jurisdiction in which the Company or any of its affiliates actively 12 conducts business. For purposes of this Section 13, 12, "Competitive Business" means the property and casualty insurance or reinsurance business. The Executive's engaging in the following activities will not be deemed to be engaging or participating in a Competitive Business: (i) investment banking; (ii) passive ownership of less than 2% of any class of securities of a company; and (iii) engaging or participating solely in a noncompetitive business of an entity which also separately operates a business which is a "Competitive Business". The Executive acknowledges, with the advice of legal counsel, that he understands the foregoing provisions of this Section 13 12 and that these provisions are fair, reasonable, and necessary for the protection of the Company's business. Executive agrees that the remedy at law for any breach or threatened breach of any covenant contained in Sections 11 and 12 and 13 will be inadequate and that the Company, Company and its affiliates, in addition to such other remedies as may be available to it, in law or in equity, shall be entitled to injunctive relief without bond or other security. View More
