Non-Competition Clause Example with 5 Variations from Business Contracts
This page contains Non-Competition 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. By accepting the Restricted Stock, the Employee agrees that during the Restricted Period (as defined below), the Employee will not, directly or indirectly, perform any job, task, function, skill, or responsibility for a Competing Business within the Restricted Territory that the Employee has provided for the Company (or its subsidiaries) within the twelve (12) month period immediately preceding the Employee's Termination Date. For purposes of this Restricted Stock Agreement, a Competing Business... shall mean any direct competitor of the Company which, in general, means a specialty retailer of: (i) better women's intimate apparel, sleepwear and bath and body products; or (ii) better women's apparel whose target customers are 35 years of age or older and have an annual household income of $75,000 or more. Competing Business includes, but is not limited to: The J. Jill Group, Inc., L Brands, Inc., Soft Surroundings Holdings, LLC, The Talbots, Inc., GAP, Inc., Victoria's Secret Stores, Inc., and Ascena Retail Group, Inc. The Restricted Period means the period immediately following the Employee's Termination Date, and is a six (6) month period for Vice Presidents and below; a twelve (12) month period for Senior, Group and Executive Vice Presidents; and a twenty-four (24) month period in case of the Chief Executive Officer. The Restricted Territory means where Company's products are marketed at the time of the Employee's termination. The Employee acknowledges that the foregoing restrictions may impair the Employee's ability to engage in certain business activities during the defined period, but acknowledges that these restrictions are reasonable consideration for the grant of the Restricted Stock hereunder.View More
Variations of a "Non-Competition" Clause from Business Contracts
Non-Competition. By accepting the Restricted Stock, the Employee Executive covenants and agrees that during the Restricted Period (as defined below), term of the Employee Executive's employment with the Company and for a twenty-four (24) month period immediately after the Termination Date (the "Restricted Period"), the Executive will not, directly or indirectly, perform any job, task, function, skill, or responsibility for a Competing Business within the Restricted Territory that the Employee Executive has provi...ded for the Company (or (and/or its subsidiaries) Affiliates) within the twelve (12) month period immediately preceding the Employee's Termination Date. Date within the Restricted Territory. For purposes of this Restricted Stock Agreement, a Competing Business "Competing Business" shall mean any direct competitor of the Company which, in general, means a specialty retailer of: (i) better women's intimate apparel, sleepwear and bath and body products; or (ii) better women's apparel whose target customers are 35 years of age or older and have an annual household income of $75,000 or more. Competing Business includes, but is not limited to: The J. Jill Group, Inc., L Brands, Inc., Soft Surroundings Holdings, LLC, The Talbots, Inc., GAP, Inc., Victoria's Secret Stores, Inc., and Ascena Retail Group, Inc. The For purposes of this Restricted Period means Stock Agreement, the period immediately following the Employee's Termination Date, and is a six (6) month period for Vice Presidents and below; a twelve (12) month period for Senior, Group and Executive Vice Presidents; and a twenty-four (24) month period in case of the Chief Executive Officer. The Restricted Territory "Restricted Territory" means where the Company's products are marketed at the time as of the Employee's termination. Termination Date. This covenant on the part of the Executive shall be construed as an agreement independent of any other provision of this Restricted Stock Agreement; and the existence of any claim or cause of action of the Executive against the Company, whether predicated on this Restricted Stock Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of this covenant. The Employee acknowledges Executive expressly agrees that the foregoing restrictions may impair of this Paragraph 14 will not prevent the Employee's ability to engage in certain business activities during Executive from otherwise obtaining gainful employment upon termination of the defined period, but Executive's employment with the Company as of the Termination Date and acknowledges that these restrictions are reasonable consideration for the grant of the Restricted Stock hereunder. View More
Non-Competition. By accepting the Restricted Stock, the Employee covenants and agrees that during the Restricted Period (as defined below), term of the Employee's employment with the Company and for a twelve (12) month period [six (6) month period for Vice Presidents and below] [twenty-four (24) month period in the case of the Chief Executive Officer] immediately after the Termination Date (the "Restricted Period"), the Employee will not, directly or indirectly, perform any job, task, function, skill, or respons...ibility for a Competing Business within the Restricted Territory that the Employee has provided for the Company (or (and/or its subsidiaries) Affiliates) within the twelve (12) month period immediately preceding the Employee's Termination Date. Date within the Restricted Territory. For purposes of this Restricted Stock Agreement, a Competing Business "Competing Business" shall mean any direct competitor of the Company which, in general, means a specialty retailer of: (i) better women's intimate apparel, sleepwear and bath and body products; or (ii) better women's apparel whose target customers are 35 years of age or older and have an annual household income of $75,000 or more. Competing Business includes, but is not limited to: The J. Jill Group, 8 Inc., L Brands, Inc., Soft Surroundings Holdings, LLC, The Talbots, Inc., GAP, Inc., Victoria's Secret Stores, Inc., and Ascena Retail Group, Inc. The For purposes of this Restricted Period means Stock Agreement, the period immediately following the Employee's Termination Date, and is a six (6) month period for Vice Presidents and below; a twelve (12) month period for Senior, Group and Executive Vice Presidents; and a twenty-four (24) month period in case of the Chief Executive Officer. The Restricted Territory "Restricted Territory" means where the Company's products are marketed at as of the time Termination Date. This covenant on the part of the Employee shall be construed as an agreement independent of any other provision of this Restricted Stock Agreement; and the existence of any claim or cause of action of the Employee against the Company, whether predicated on this Restricted Stock Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of this covenant. The Employee expressly agrees that the restrictions of this Paragraph 14 will not prevent the Employee from otherwise obtaining gainful employment upon termination of the Employee's termination. The Employee acknowledges that employment with the foregoing restrictions may impair Company as of the Employee's ability to engage in certain business activities during the defined period, but Termination Date and acknowledges that these restrictions are reasonable consideration for the grant of the Restricted Stock hereunder. View More
Non-Competition. By accepting the Restricted Stock, Performance Award, the Employee agrees that during the Restricted Period (as as defined below), below, the Employee will not, directly or indirectly, perform any job, task, function, skill, or responsibility for a Competing Business within the Restricted Territory that the Employee has provided for the Company (or its subsidiaries) within the twelve (12) month period immediately preceding the Employee's Termination Date. For purposes of this Restricted Stock Pe...rformance Award Agreement, a Competing Business shall mean any direct competitor of the Company which, in general, means a specialty retailer of: (i) better women's intimate apparel, sleepwear and bath and body products; or (ii) better women's apparel whose target customers are 35 30 years of age or older and have an annual household income of $75,000 or more. Competing Business includes, but is not limited to: The J. Jill Group, Inc., L Brands, Inc., Soft Surroundings Holdings, LLC, The Talbots, Inc., GAP, Inc., Victoria's Secret Stores, Inc., and Ascena Retail Group, Inc. The Restricted Period means the period immediately following the Employee's Termination Date, and is a six (6) month period for Vice Presidents and below; a twelve (12) month period for Senior, Group and Executive Vice Presidents; and a twenty-four (24) month period in case of the Chief Executive Officer. The Restricted Territory means where Company's products are marketed at the time of the Employee's termination. The Employee acknowledges that the foregoing restrictions may impair the Employee's ability to engage in certain business activities during the defined period, but acknowledges that these restrictions are reasonable consideration for the grant of the Restricted Stock Performance Award hereunder. Page | 92017 PSU 30460204v5 15. Nonsolicitation. By accepting the Performance Award, the Employee agrees that for a period of two (2) years following the Termination Date, the Employee will not directly or indirectly solicit, induce or attempt to influence any Company employee (including any Company's subsidiaries' employee) to leave the Company's employ, nor will the Employee assist anyone in soliciting or recruiting a Company employee (including a Company's subsidiaries' employee) for purposes of being employed or retained as a consultant or contractor elsewhere. View More
Non-Competition. By accepting the Restricted Stock, the Employee Executive agrees that during the Restricted Period (as defined below), the Employee Executive will not, directly or indirectly, perform any job, task, function, skill, or responsibility for a Competing Business within the Restricted Territory that the Employee Executive has provided for the Company (or its subsidiaries) within the twelve (12) month period immediately preceding the Employee's Termination Date. last day of the Executive's Employment ...with the Company. For purposes of this Restricted Stock Agreement, a Competing Business shall mean any direct competitor of the Company which, in general, means a specialty retailer of: (i) better women's intimate apparel, sleepwear and bath and body products; or (ii) better women's apparel whose target customers are 35 years of age or older and have an annual household income of $75,000 or more. Competing Business includes, but is not limited to: The J. Jill Group, Inc., L Brands, Inc., Soft 7 Surroundings Holdings, LLC, The Talbots, Inc., GAP, Inc., Victoria's Secret Stores, Inc., and Ascena Retail Group, Inc. The Restricted Period means the period immediately following the Employee's Termination Date, and is a six (6) month period for Vice Presidents and below; a twelve (12) month period for Senior, Group and Executive Vice Presidents; and a twenty-four (24) month period in case immediately after the last day of the Chief Executive Officer. Executive's employment with the Company. The Restricted Territory means where Company's products are marketed at the time as of the Employee's termination. last day of the Executive's Employment with the Company. The Employee Executive acknowledges that the foregoing restrictions may impair the Employee's Executive's ability to engage in certain business activities during the defined period, but acknowledges that these restrictions are reasonable consideration for the grant of the Restricted Stock hereunder. View More
Non-Competition. By accepting the Restricted Stock, the Employee agrees that during the Restricted Period (as as defined below), below, the Employee will not, directly or indirectly, perform any job, task, function, skill, or responsibility for a Competing Business within the Restricted Territory that the Employee has provided for the Company (or its subsidiaries) within the twelve (12) month period immediately preceding the Employee's Termination Date. For purposes of this Restricted Stock Agreement, a Competin...g Business shall mean any direct competitor of the Company which, in general, means a specialty retailer of: (i) better women's intimate apparel, sleepwear and bath and body products; or (ii) better women's apparel whose target customers are 35 30 years of age or older and have an annual household income of $75,000 or more. Competing Business includes, but is not limited to: The J. Jill Group, Inc., L Brands, Inc., Soft Surroundings Holdings, LLC, The Talbots, Inc., GAP, Inc., Victoria's Secret Stores, Inc., and Ascena Retail Group, Inc. The Restricted Period means the period immediately following the Employee's Termination Date, and is a six (6) month period for Vice Presidents and below; a twelve (12) month period for Senior, Group and Executive Vice Presidents; and a twenty-four (24) month period in case of the Chief Executive Officer. The Restricted Territory means where Company's products are marketed at the time of the Employee's termination. The Employee acknowledges that the foregoing restrictions may impair the Employee's ability to engage in certain business activities during the defined period, but acknowledges that these restrictions are reasonable consideration for the grant of the Restricted Stock hereunder. Page | 72017 RSA 30463473v3 15. Nonsolicitation. By accepting the Restricted Stock, the Employee agrees that for a period of two (2) years following the Termination Date, the Employee will not directly or indirectly solicit, induce or attempt to influence any Company employee (including any Company's subsidiaries' employee) to leave the Company's employ, nor will the Employee assist anyone in soliciting or recruiting a Company employee (including a Company's subsidiaries' employee) for purposes of being employed or retained as a consultant or contractor elsewhere. View More
