Common use of Prohibited Competition Clause in Contracts

Prohibited Competition. The Employee recognizes and acknowledges the competitive and proprietary nature of the Company's business operations. The Employee acknowledges and agrees that a business will be deemed competitive with the Company if it engages in a line of business in which it performs any of the principal services provided or offered by the Company or any services designed or marketed primarily to fulfill the same function, whether or not similar (the Company's "Field of Interest"). The Employee further acknowledges and agrees that during the course of performing services for the Company, the Company will furnish, disclose or make available to Employee confidential and proprietary information related to the Company's business and that such confidential information has been developed and will be developed by the Company through the expenditure by the Company of substantial time, effort and money and that all such confidential information could be used by the Employee to compete with the Company. Accordingly, the Employee hereby agrees in consideration of the Company's agreement to hire the Employee and to pay the Employee's compensation for services rendered to the Company and in view of the position of trust to be held by the Employee and the confidential nature and proprietary value of the information which the Company may share with the Employee, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, as follows: During the term of the Employee's employment by the Company under this Agreement (the "Term") and for a period of two (2) years following the expiration or termination of the Term (the "Restricted Term"), whether such termination is voluntary or involuntary, the Employee shall not, without the prior written consent of the Company, at any place within the state of Colorado:

Appears in 1 contract

Samples: Employment Agreement (Usurf America Inc)

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Prohibited Competition. The Employee recognizes and acknowledges the competitive and proprietary nature of the Company's business operations. The Employee acknowledges and agrees that a business will be deemed competitive with the Company if it engages involves the development, enhancement or sales of psychometric profiling software for use via the internet or in a line of business in which it performs any of the principal services provided or offered by the Company or any services designed or marketed primarily to fulfill the same functionother manners, whether it be for companies, employees, applicants or not similar students, or in related areas of software development, enhancement or sales (such business to be referred to as the Company's "Field of Interest"). The Employee further acknowledges and agrees that during the course of performing services for the Company, a business will be deemed competitive with the Company will furnishif it involves the development, disclose enhancement or make available sales on the subject of information technology of a nature similar to Employee confidential and proprietary information related to the Company's business and that such confidential information has been jobFit, careerFit or studentFit or products developed and will be developed by the Company through the expenditure by the Company using any or all of substantial time, effort and money and that all such confidential information could be used by the Employee to compete with the Companythem as at least a partial basis for further development. Accordingly, the Employee hereby agrees in consideration of the Company's agreement to hire purchase the related software developed by Employee and the issuance to pay the Employee's compensation for services rendered to the him or his designees of a significant amount of Company stock and in view of the confidential position of trust to be held by the Employee Employee, and the confidential nature and proprietary value of the information which the Company may share with the Employee, the requirement of Employee to continue to participate in the further development of the software referred to above and for other good and valuable consideration, the receipt and sufficiency of which are is hereby acknowledged, as follows: During the term of the Employee's employment by the Company under this Agreement (the "Term") and Employee agrees that for a period of two (2) years following beginning on the date hereof and continuing until the expiration of this Agreement, Employee shall not engage, directly or termination indirectly, on his own behalf or on behalf of any other person or entity other than the Company, whether as principal, agent, partner, co-venturer, owner, stockholder, contract speaker, employee or consultant, anywhere in the world, in any business or activity within the field of Interest. Employee further recognizes and acknowledges that (i) the types of employment which are prohibited by this paragraph are narrow and reasonable in relation to the skills which represent Employee's principal salable asset both to the Company and to Employee's other prospective employers, and (ii) the specified but broad geographical scope of the Term (the "Restricted Term")provisions of this paragraph is reasonable, whether such termination is voluntary or involuntary, the legitimate and fair to Employee shall not, without the prior written consent in light of the Company's need to perform its functions and market services and throughout the world in order to have a sufficient customer base to the Company's business profitability, at especially in light of the significant amount of common shares issued to Employee. If any place within the state party of Colorado:this section should be determined by a court of competent jurisdiction to be unreasonable in duration, geographic area, or scope, then this section is intended to and shall extend only for such period of time, in such area and with respect to such activity as is determined to be reasonable.

Appears in 1 contract

Samples: Non Competition Agreement (Careertek Org Inc)

Prohibited Competition. The Employee recognizes and acknowledges the ---------------------- competitive and proprietary nature of the Company's business operations. The Employee acknowledges and agrees that a business will be deemed competitive with the Company if it engages in involves the development and performance of seminars, classes and other presentations on the subject matter of information technology of a line of business in which it performs any of nature similar to the principal services seminars, classes and presentations currently provided or offered by the Company or any services designed or marketed primarily for Hewlett-Packard Company, Oracle Corporation, Informix, Inc. and Xxxxxx Associates, Inc. (such business to fulfill be referred to as the same function, whether or not similar (the Company's "Field of Interest"). The Employee further acknowledges and agrees that during the course of performing services for the Company, the Company will furnish, disclose or make available to Employee confidential and proprietary information related to the Company's business and that such confidential information has been developed and will be developed by the Company through the expenditure by the Company of substantial time, effort and money and that all such confidential information could be used by the Employee to compete with the Company. Accordingly, the Employee hereby agrees in consideration of the Company's agreement to hire the Employee and to pay the Employee's compensation for services rendered to the Company and in view of the confidential position of trust to be held by the Employee Employee, and the confidential nature and proprietary value of the information which the Company may share with the Employee, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, as follows: During the term of the Employee's employment by the Company under this Agreement (the "Term") and Employee agrees that for a period beginning on the date hereof and continuing until the first anniversary of two this Agreement, Employee shall not engage, directly or indirectly, on his own behalf or on behalf of any other person or entity other than the Company, whether as principal, agent, partner, co- venturer, owner, stockholder, contract speaker, employee or consultant, anywhere in the world, in any business or activity within the Field of Interest. Employee further recognizes and acknowledges that (2i) years following the expiration or termination types of employment which are prohibited by this paragraph are narrow and reasonable in relation to the skills which represent Employee's principal salable asset both to the company and to Employee's other prospective employers, and (ii) the specified but broad geographical scope of the Term (the "Restricted Term")provisions of this paragraph is reasonable, whether such termination is voluntary or involuntary, the legitimate and fair to Employee shall not, without the prior written consent in light of the Company's need to perform its and market its services and throughout the world in order to have a sufficient customer base to make the Company's business profitable . If any part of this section should be determined by a court of competent jurisdiction to be unreasonable in duration, at any place within the state geographic area, or scope, then this section is intended to and shall extend only for such period of Colorado:time, in such area and with respect to such activity as is determined to be reasonable.

Appears in 1 contract

Samples: Non Competition Agreement (C-Bridge Internet Solutions Inc)

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Prohibited Competition. The Employee recognizes recognize and acknowledges acknowledge the competitive and proprietary nature of the Company's business operations. The Employee acknowledges and agrees that a business will be deemed competitive with the Company if it engages in a line of business in which it performs any of the principal services services, manufactures or sells any of the products provided or offered by the Company or any services designed is involved in the research, or marketed primarily development of processes, products or techniques in the Company's Field of Interest (such business to fulfill the same function, whether or not similar (the be referred to as a "competitive business"). The term Company's "Field of Interest"). The " currently means the development of products or processes as anti-infective therapeutics or diagnostics and commercial use of fungi, yeast, and bacteria in drug screening, production, development or Employee further acknowledges and agrees that during the course of performing services for the CompanyCompany as an employee, the Company will furnish, disclose or make available to Employee confidential and proprietary information related to the Company's business and that the Company may provide Employee with unique and specialized training. Employee also acknowledges that such confidential information has and the training to be provided by the Company have been developed and will be developed by the Company and others with whom the Company has a relationship through the expenditure by the Company and others of substantial time, effort and money and that all such confidential information and training could be used by the Employee to compete with the Company. Accordingly, the Employee hereby agrees in consideration of the Company's agreement to hire the engage Employee as an employee and to pay the Employee's compensation for services rendered to the Company thereof, and in view of the confidential position of trust to be held by Employee, the unique and specialized training which the Company may provide Employee and the confidential nature and proprietary value of the information which the Company may share with the Employee, and for other good and valuable consideration, the receipt and sufficiency of which are is hereby acknowledged, as follows: During the term of the Employee's employment by the Company under this Agreement (the "Term") and for a period of two (2) years following the expiration or termination of the Term (the "Restricted Term"), whether such termination is voluntary or involuntary, the Employee shall not, without the prior written consent of the Company, at any place within the state of Colorado:

Appears in 1 contract

Samples: Noncompetition Agreement (Chemgenics Pharmaceuticals Inc)

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