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Alabama Employee Non-Compete Agreement

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Alabama Employee Non-Compete Agreement Powered By Docstoc
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                             This Employee Non-Compete Agreement is used by companies located in Alabama 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 Alabama 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
       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, hypothecate, give, create a security interest in or lien on,
      place 
				
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Description: This Employee Non-Compete Agreement is used by companies located in Alabama 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 Alabama Legal Documents 87 Documents Included