NON-COMPETE AGREEMENT

by | Feb 18, 2022 | Samples legal papers

NON-COMPETE AGREEMENT

THIS AGREEMENT (hereafter, ‘‘this agreement’’) effective as of [DATE], is made and entered into by and between [NAME OF COMPANY] of address [ADDRESS] (hereafter ‘‘Us/We/Our’’) and [NAME OF COMPANY] of address [ADDRESS] (hereafter, ‘‘You’’).

WHEREAS, we acts as agents for our customers from Thailand in regards to supplement products manufactured by your Company;

WHEREAS, you manufacture products that we distribute to our customers;

NOW THEREFORE, in consideration of the foregoing premises, and of the mutual promises and covenants herein contained, You and Us (hereafter, ‘‘the parties’’), intending to be legally bound and do hereby agree as follows:

  1. TERM OF THE AGREEMENT

 This Agreement is effective on the Effective Date, and shall remain in effect throughout the term of our service agreement.

  • NON-COMPETITION. 
      1.  For the purpose of this agreement, we are agents for our customers in Thailand and the only exclusive agents for that matter. We have purchased the marketing and advertising campaigns to promote your company as our manufacturer. 
      2. For the entire duration of this Agreement and the service agreement prior signed by the parties, You agree not to compete with Us in any way by transacting with our clients directly.
      3. Your Company agrees not to share details of prices with our customers. Any communications from your company to our customers should only be done through us. Communicating to our customers directly shall amount to breach of this contract which shall give us the right to take any legal action against your company.
      4. You acknowledge that You have been provided with the opportunity to negotiate this agreement, have had the opportunity to seek legal counsel before signing this agreement, and that the restrictions imposed are fair and necessary for Our business interests. 
      5. You agree that these restrictions are reasonable and do not constitute a threat to your business.
  • TERMINATION

Either Party to this Agreement may terminate this Agreement upon a written notice of termination to the other Party. 

  • INJUNCTIVE RELIEF

You hereby acknowledge; 

(1) That we will suffer irreparable harm if You breach your obligations under this Agreement; and 

(2) That monetary damages will be inadequate to compensate us for such a breach.  Therefore, if you breach any of such provisions, then we shall be entitled to injunctive relief, in addition to any other remedies at law or equity, to enforce such provisions.

  • SEVERABILITY

The parties agree that if any portion of this contract is found to be void or unenforceable, it shall be struck from the record and the remaining provisions will retain their full force and effect.

  1. MODIFICATION OF THIS AGREEMENT 

 This Agreement may be modified only by a writing executed by You and Us.

  1. PRIOR UNDERSTANDING

 This Agreement contains the entire agreement between the parties with respect to the subject matter of this Agreement.   The Agreement supersedes all prior understanding, agreements, or representations.

  • DISPUTES

Except as otherwise specifically agreed in writing by You and Us, any dispute relating to any rights and/ or obligations arising from this Agreement which is not resolved by the parties shall be adjudicated by any court of competent jurisdiction.

  • JURISDICTION

This contract shall be governed, interpreted, and construed in accordance with the laws of [STATE, PROVINCE OR TERRITORY].

 

In Witness Whereof, this Agreement is duly executed by the duly authorized representatives of the parties as set forth below:

 

___________________________________ ___________________________

Signature Date

 

___________________________________ ___________________________

Signature Date

 

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