This non-compete and non-solicitation agreement has been entered into by a corporation and an employee. The employee agrees not to become employed by, or enter into any similar agreement as a director, employee, independent contractor, consultant, agent or partner with another corporation similar to the one identified within the agreement during the closing of a twenty-four month recapitalization venture.
North Dakota Sample Noncompetition and Nonsolicitation Agreement
Category:
State:
Multi-State
Control #:
US-C-9200
Format:
Word;
Rich Text
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FAQ
In North Dakota, non-compete agreements are generally enforceable, but they must meet specific criteria. The agreement must be reasonable in scope, duration, and geographic area. If you are considering a North Dakota Sample Noncompetition and Nonsolicitation Agreement, it is essential to ensure that your terms comply with these requirements to protect your interests.
In order to be enforceable, a non-compete agreement must include an offer, acceptance, intent, and a benefit or consideration to the employee in exchange for his or her promise. The benefit could be as simple as getting the job or, for an existing employee, getting a promotion or raise.
Even though North Dakota is adverse to non-compete agreements, they are still allowed in limited applications. In 2019, the North Dakota legislature expanded the allowed application of non-compete agreements. Non-compete agreements are generally governed by North Dakota Century Code § 9-08-06.
The Employee specifically agrees that for a period of months/years after the Employee is no longer employed by the Company, the Employee will not engage, directly or indirectly, either as proprietor, stockholder, partner, officer, employee or otherwise, in the same or similar activities as were performed for
Non-Competition Clause Examples Example 1: Preventing former employees from using trade secrets. Example 2: Stopping contractors from competing with you. Example 3: Former partners limiting the geographical reach. Example 4: Extra protection in business contracts.
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.
A traditional non-compete stops an employee from working for a competitor in a certain geographical area for a certain amount of time after leaving the company. A non-solicitation agreement prevents an employee from poaching customers, contracts or other employees from the company that first hired them.
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.
Key TakeawaysA non-compete agreement legally binds a current or former employee from competing with an employer for some period of time after employment ceases.Under such an agreement, the employee must not reveal any trade secrets learned during employment.More items...
Here are some tips:What is a noncompete agreement?Keep the group small.Keep the restrictions reasonable and narrow.Provide consideration for the agreement.Get it in writing.Prepare multiple versions if necessary.Concede choice of law/forum.Provisions to include.
