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.
Nebraska Sample Noncompetition and Nonsolicitation Agreement
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State:
Multi-State
Control #:
US-C-9200
Format:
Word;
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How to fill out Sample Noncompetition And Nonsolicitation Agreement?
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FAQ
Provide consideration in addition to an offer of employment or continued employment. Examples of such possible additional consideration include a cash payment, stock options, training, education, a raise, additional paid time off, guaranteed severance, or a promotion.
If your non-compete agreement is a validly-executed agreement with a reasonable scope, it is not likely to get out of the agreement. It may only be possible to get out of a non-compete agreement if: The agreement was not validly executed such as if you signed under coercion, duress, or without knowledge of its terms.
No Nebraska court has held that continued at-will employment is also sufficient consideration to support the execution of a revised agreement (although I think there are strong arguments in support of that position).
There are no statutory provisions defining the rules on non-competes in Nebraska. All of the law comes from court decisions. As a general rule, non-compete agreements will be upheld so long as they meet three requirements: The restriction must be reasonable in the sense that it is not injurious to the public.
Generally speaking, non-compete agreements (also sometimes called non-competition agreements, or simply non-competes) are not enforceable in California against former employees.
Iowa non-compete agreements are generally enforceable if they are found necessary to protect an employer's business', not unreasonably restrictive and are not prejudicial to public interest.
Consideration Like any contract, a non-compete agreement must be supported by adequate consideration. Many states have determined that merely the initiation of or continuation of an employment relationship is sufficient consideration for a non-compete agreement.
Thus, the employee is giving up a legal right and needs to get something (some consideration) from the employer in exchange. In many states, such as New York, employment or continued employment is considered sufficient consideration.
In general, the state of Iowa has found that non-compete agreements are enforceable as long as they meet the criteria above and are not too broadly written that they will not hold up in court.
Nebraska is an All or Nothing state in that it will not will modify or blue pencil a non-compete agreement to make it enforceable. This means that if one provision of the non-compete is unenforceable, the entire agreement will be held unenforceable.
More info
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