Common use of Rationale for Restrictions Clause in Contracts

Rationale for Restrictions. Employee agrees that his services hereunder are of a special, unique, extraordinary and intellectual character, and his position with the Employer places him in a position of confidence and trust with the customers, suppliers and employees of the Employer and/or Related Entities. Employee also acknowledges that the Employer designs, manufactures, markets and sells LED and fiber optic lighting products used in applications in the commercial, architectural, signage, swimming pool and OEM markets throughout the world and that the Employer competes with many entities. Employee further acknowledges that the rendering of services under this Agreement necessarily requires the disclosure to Employee of Confidential Information (as defined below) of the Employer and/or Related Entities. Employee and the Employer agree that in the course of employment hereunder, Employee has and will continue to develop a personal relationship with the Employer’s customers, and a knowledge of these customers’ affairs and requirements which may constitute the Employer’s primary and only contact with such customers. Employee acknowledges that the Employer’s relationships with its established customers may therefore be placed in Employee’s hands in confidence and trust. Employee consequently agrees that it is reasonable and necessary for the protection of the goodwill and legitimate business interests of the Employer and/or the Related Entities that Employee make the covenants contained herein, that the covenants are a material inducement for the Employer to employ or continue to employ Employee and to enter into this Agreement, and that the covenants are given as an integral part of and incident to this Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Super Vision International Inc), Employment Agreement (Super Vision International Inc), Employment Agreement (Nexxus Lighting, Inc.)

AutoNDA by SimpleDocs

Rationale for Restrictions. The Employee agrees acknowledges that his services hereunder are of a special, unique, extraordinary and intellectual character, and his position with the Employer places him in a position of confidence and trust with the customers, suppliers and employees of the Employer and/or Related Entities. The Employee also acknowledges that the Employer designsand Related Entities repairs, manufactures, markets overhauls and sells LED and fiber optic lighting products used in applications in the commercial, architectural, signage, swimming pool and OEM markets services certain aircraft equipment (collectively "PRODUCTS") throughout the world and that the Employer competes with many entitiescompanies, including, but not limited to,______________________________________. The Employee further acknowledges that the rendering of services under this Agreement necessarily requires the disclosure to the Employee of Confidential Information (as defined below) of the Employer and/or Related Entities. The Employee and the Employer agree that in both prior to and during the course of employment hereunderwith the Employer and Northwings, the Employee has had, has, and will continue to develop a personal relationship with the Employer’s 's customers, and a knowledge of these customers' affairs and requirements which may constitute the Employer’s 's primary and only contact with such customers. The Employee acknowledges that the Employer’s 's relationships with its established customers clientele may therefore be placed in the Employee’s 's hands in confidence and trust. The Employee consequently agrees that it is reasonable and necessary for the protection of the goodwill and legitimate business interests of the Employer and/or and the Related Entities that the Employee make the covenants contained herein, that the covenants are a material inducement for the Employer to employ or continue to employ the Employee and to enter into this Agreement, and that the covenants are given as an integral part of and incident to this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Heico Corp)

Rationale for Restrictions. Employee agrees that his services hereunder are of a special, unique, extraordinary and intellectual character, and his position with the Employer places him in a position of confidence and trust with the customers, suppliers and employees of the Employer and/or Related Entities. Employee also acknowledges that the Employer designs, manufactures, markets and sells LED Related Entities repair and fiber optic lighting products used in applications in the commercial, architectural, signage, swimming pool overhaul aircraft accessories and OEM markets systems (collectively "Products") throughout the world and that the Employer competes with many entitiescompanies, including but not limited to, CARIBE and NORTEK. Employee further acknowledges that the rendering of services under this Agreement necessarily requires the disclosure to Employee of Confidential Information (as defined below) of the Employer and/or Related Entities. Employee and the Employer agree that in the course of employment hereunder, Employee has and will continue to develop a personal relationship with the Employer’s 's customers, and a knowledge of these customers' affairs and requirements which may constitute the Employer’s 's primary and only contact with such customers. Employee acknowledges that the Employer’s 's relationships with its established customers clientele may therefore be placed in Employee’s 's hands in confidence and trust. Employee consequently agrees that it is reasonable and necessary for the protection of the goodwill and legitimate business interests of the Employer and/or the Related Entities that Employee make the covenants contained herein, that the covenants are a material inducement for the Employer to employ or continue to employ Employee and to enter into this Agreement, and that the covenants are given as an integral part of and incident to this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Heico Corp)

AutoNDA by SimpleDocs

Rationale for Restrictions. The Employee agrees acknowledges that his services hereunder are of a special, unique, extraordinary and intellectual character, and his position with the Employer places him in a position of confidence and trust with the customers, suppliers and employees of the Employer and/or Related Entities. The Employee also acknowledges that the Employer designsand Related Entities repairs, manufactures, markets overhauls and sells LED and fiber optic lighting products used in applications in the commercial, architectural, signage, swimming pool and OEM markets services certain aircraft equipment (collectively "PRODUCTS") throughout the world and that the Employer competes with many entitiescompanies, including, but not limited to,_____________________________________. The Employee further acknowledges that the rendering of services under this Agreement necessarily requires the disclosure to the Employee of Confidential Information (as defined below) of the Employer and/or Related Entities. The Employee and the Employer agree that in both prior to and during the course of employment hereunderwith the Employer and Northwings, the Employee has had, has, and will continue to develop a personal relationship with the Employer’s 's customers, and a knowledge of these customers' affairs and requirements which may constitute the Employer’s 's primary and only contact with such customers. The Employee acknowledges that the Employer’s 's relationships with its established customers clientele may therefore be placed in the Employee’s 's hands in confidence and trust. The Employee consequently agrees that it is reasonable and necessary for the protection of the goodwill and legitimate business interests of the Employer and/or and the Related Entities that the Employee make the covenants contained herein, that the covenants are a material inducement for the Employer to employ or continue to employ the Employee and to enter into this Agreement, and that the covenants are given as an integral part of and incident to this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Heico Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!