NON-COMPETE AGREEMENT
This Non-compete Agreement (the “Agreement”) is entered into ________________ (the “Effective Date”), by and between ______________________, with an address of ________________ (the “Buyer”) and ___________________, with an address of _____________________, (the “Contractor”), collectively “the Parties”).
- Restricted Business
The Contractor acknowledges that Buyer’s primary business is selling candles. The Contractor shall be restricted from competing with the Buyer in the Buyer’s primary business by reproducing the silicone molds sold to the Buyer.
- Restricted Period
Contractor shall be restricted from competing with Buyer for a period of 10-15 years upon termination of its relationship with the Buyer.
- Restricted Territory
The Contractor is restricted from making and selling the products in Israel or any other part of the world within the restricted period.
- Restrictions
During the Restricted Period and within the Restricted Territory, Contractor shall not, directly or indirectly, own, manage, operate, join, control, finance, participate in the ownership, management, operation, control or financing of, or be connected as an officer, director, employee, partner, principal, agent, representative, or consultant of any entity engaged in the Restricted Business, without the prior, written consent of the Buyer.
- Non-solicitation
Contractor further agrees not to solicit, either directly or indirectly, any employee of Buyer to leave his/her employment with the Buyer; and Contractor agrees not to solicit, either directly or indirectly, the business of any client and/or customer of the Buyer.
- Consideration
Buyer agrees to pay and Contractor agrees to accept $ 1200 as consideration to enter into this Non-Compete Agreement.
- Confidential Information
“Confidential Information” shall mean any and all technical and non-technical information provided by Buyer, including but not limited to, any data, files, reports, accounts, or any proprietary information in any way related to products, services, processes, database, plans, methods, research, development, programs, software, authorship, customer lists, vendor lists, suppliers, marketing and/or advertising plans, methods, reports, analysis, financial or statistical information, and any other material related or pertaining to Buyer’s business, it’s subsidiaries, respective clients, consultants or vendors that may be disclosed to Contractor herein contained within the terms of the Agreement. Contractor will not share any of this confidential information at any time. Contractor also will not use any of this confidential information for his/her personal benefit at any time. This section remains in full force and effect even after termination of the Agreement by its natural termination or the early termination by either party.
- Acknowledgments
Contractor acknowledges that the restrictions, prohibitions and other provisions of this Agreement, including the Restricted Period and Restricted Territory, are reasonable, fair and equitable in scope, terms and duration, are necessary to protect the legitimate business interests of Buyer, and are a material inducement to Buyer to enter into this Agreement.
- Representations and Warranties
Both Parties represent that they are fully authorized to enter into this Agreement. The performance and obligations of either Party will not violate or infringe upon the rights of any third-party or violate any other agreement between the Parties, Contractor, and any other person, organization, or business or any law or governmental regulation.
- Severability
In the event any provision of this Agreement is deemed invalid or unenforceable, in whole or in part, that part shall be severed from the remainder of the Agreement and all other provisions should continue in full force and effect as valid and enforceable.
- Waiver
The failure by either party to exercise any right, power or privilege under the terms of this Agreement will not be construed as a waiver of any subsequent or further exercise of that right, power or privilege or the exercise of any other right, power or privilege.
- Legal Fees
In the event of a dispute resulting in legal action, the successful party will be entitled to its legal fees, including, but not limited to its attorneys’ fees.
- Legal and Binding Agreement
This Agreement is legal and binding between the Parties as stated above. This Agreement may be entered into and is legal and binding both in the Israel and throughout Europe. The Parties each represent that they have the authority to enter into this Agreement.
- Governing Law and Jurisdiction
The Parties agree that this Agreement shall be governed by the State and/or Country in which Contractor is located.
- Entire Agreement
The Parties acknowledge and agree that this Agreement represents the entire agreement between the Parties. In the event that the Parties desire to change, add, or otherwise modify any terms, they shall do so in writing to be signed by both parties.
The Parties agree to the terms and conditions set forth above as demonstrated by their signatures as follows:
“BUYER”
Signed: _____________________________________
By: ________________________________________
Date: _______________________________________
“CONTRACTOR”
Signed: _____________________________________
By: ________________________________________
Date: _____________________________________
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