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Alaska Employee Non-Compete Agreement

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Alaska Employee Non-Compete Agreement Powered By Docstoc
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                             This Employee Non-Compete Agreement is used by companies located in Alaska to protect
                             their legitimate business interests such as trade secrets and confidential information. It
                             ensures that during and upon the termination of the employment period, their employees
                             will not engage in activities that place them in direct competition with the company. The
                             agreement restricts employees from working for a competitor for a certain period of time
                             and within geographical area. This document contains numerous of the standard
                             provisions commonly included in a non-compete agreement, and it may be customized to
                             address the specific needs of the company.
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                                 EMPLOYEE NON-COMPETE AGREEMENT

THIS EMPLOYEE NON-COMPETE AGREEMENT (hereinafter “Agreement”), effective as of
____ [Month] ____ [Date], 20___ [Year] (hereinafter “Effective Date”), between
________________________ [Instruction: Insert the name of company], a company
organized and existing under the laws of Alaska having principal place of business located at
_________________________________ [Instruction: Insert the address of company]
(hereinafter the “Company”), and ________________________ [Instruction: Insert the name
of employee] residing at __________________________________________ [Instruction:
Insert the address of employee] (hereinafter the “Employee”). The Company and the Employee
may individually be referred to as “Party”, or collectively as the “Parties”.

       WHEREAS, the Employee has been offered employment by the Company for the
position of ________________________ [Instruction: Insert the position/designation of the
Employee] and has entered into an agreement with the Company (the “Employment
Agreement”);

       WHEREAS, Parties deem it in their respective interests to enter into an agreement
providing the obligation of non-compete for the Employee;

       NOW, THEREFORE, in consideration of the mutual promises and agreements
contained herein, and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Parties hereto agree as follows:

1. COVENANT NOT TO COMPETE

    The Employee hereby agrees that, during the term of employment under the Employment
    Agreement and for a period of ___________ (___) [Instruction: Insert period of
    Agreement, e.g., one (◊ 1)] year thereafter (hereinafter “Restrictive Period”), whether with
    or without good cause or for any or no cause, at the option either of the Company or the
    Employee, with or without notice, the Employee will not compete with the Company and its
    successors and assigns, without the prior written consent of the Company. The Employee
    shall not:

    a. alone, with and/or through others, be, become, or function as an officer, director,
       employee, owner, corporate affiliate, salesperson, co-owner, partner, trustee, promoter,
       founder, technician, engineer, analyst, agent, representative, distributor, re-seller, sub
       licensor, supplier, investor or lender, consultant, advisor or manager of or to, or otherwise
       acquire or hold any interest in or otherwise engage in the provision of services to, any
       person or entity that engages in a business that is directly competitive (as defined below);
       provided, however, that the Employee may work exclusively for a division, entity, or
       subgroup of such a business if the division, entity or subgroup is not directly competitive;
       or

    b. authorize the Employee’s name to be used in connection with a business that is directly
       competitive;

        For purposes of this Agreement, “Directly Competitive” means developing,
        manufacturing, providing, marketing, distributing, or otherwise commercially exploiting
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        any products, services, or technology that compete with the Company’s products,
        services, or technology in existence as of the Effective Date or the foregoing products,
        services, or technology as such may be developed, enhanced, or modified by the
        Company after the Effective Date.

    c. engage in or participate in, directly or indirectly, any business conducted under any name
       that shall be the same as or similar to the name of the Company or any trade name used
       by it that is (i) Directly Competitive (or indirectly) with the business of the Company or
       (ii) engaged in any related activity where the use of such name is reasonably likely to
       result in confusion; or

    d. transfer, sell, assign, pledge, hypoth
				
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Description: This Employee Non-Compete Agreement is used by companies located in Alaska to protect their legitimate business interests such as trade secrets and confidential information. It ensures that during and upon the termination of the employment period, their employees will not engage in activities that place them in direct competition with the company. The agreement restricts employees from working for a competitor for a certain period of time and within geographical area. This document contains numerous of the standard provisions commonly included in a non-compete agreement, and it may be customized to address the specific needs of the company.
This document is also part of a package Essential Alaska Legal Documents 174 Documents Included