NON-COMPETE AGREEMENT
This Non-Compete Agreement is entered into as of __________________[DATE] by and between XXX INVESTORS LLC having its principal place of business located at ___________________ [COMPANY.ADDRESS] (the “Company”) and ___________________________ (the “Employee”), both of whom agree to be bound by this Agreement.
WHEREAS, the Company is in the business of real estate investment.
WHEREAS, the Employee and the Employer have entered into a formal Employment agreement where the Employee will perform duties related to their position as an Acquisition Manager; and
WHEREAS, the Employee is a 1099 commission employee
WHEREAS, the Employee agrees to the restrictions described herein as binding.
THEREFORE, the Employer and the Employee agree to the following terms:
- NON-COMPETITION. For the entire duration of this agreement, the Employee will not work as an officer, director, partner, agent, employee, owner, and consultant or engage in any other capacity with a competing company or the customers of SC Investors LLC. If he/she breaks the rules of the Employer-Employee relationship, they will be liable to pay a fine of $ 5,000.
- EMPLOYEE ACKNOWLEDGEMENTS. The Employee acknowledges and agrees that they have been accorded an opportunity to negotiate this agreement, they have been accorded an opportunity to seek legal counsel before executing this contract, and that the restrictions imposed are necessary and fair for the Company’s business interests. Finally, the Employee agrees that these restrictions are reasonable and will not place undue burden upon the Employee’s livelihood.
- APPLICABLE LAW. This Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the State of ______________ [STATE] and subject to the exclusive jurisdiction of the federal and state courts located in [COUNTY], [STATE].
IN WITNESS WHEREOF, both parties agree to these terms and give their consent and authority to this agreement below.
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Employee Signature
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Date
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Employer Representative Signature
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Date
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