COVENANT NOT TO COMPETE
For
and
in consideration of $10.00 and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the undersigned and
Sitestar Corporation covenant and agree as follows:
| 1. |
The
undersigned agrees that for a period of five years following the date
of
execution of this covenant he will not directly, individually, together,
or as a partner, agent, manager, member, officer, director, shareholder,
by contract, or in any similar manner, engage in any or all of the
prohibited activities, as defined herein, with any other party or in
association with any entity within the states of Idaho or
Montana.
|
| 2. |
Prohibited
activities include any activity involving the sales, design, and/or
servicing and maintaining service for dialup internet, broadband internet,
wide area networks, and network security.
|
| 3. |
The
undersigned further agrees that he will not engage in the solicitation
of
customers, business, or patronage, on behalf of any person or entity
engaged in the prohibited activities, will refrain from entering into
or
engaging in any discussion or negotiation, or assisting in such actions
intended to obtain information from any employee, agent, or manager
of
Sitestar Corporation concerning the prohibited activities, will not
influence any employee, agent or manager to terminate their relationship
with Sitestar Corporation in order to engage in any prohibited activity,
and will not promote or assist, financially or otherwise, any person,
firm, association, corporation, or other entity engaged in or that
intends
to engage in a prohibited activity.
|
| 4. |
The
undersigned further agrees that he shall not during the term hereof
or
thereafter in any manner, either directly or indirectly, divulge, disclose
or communicate to any person, firm, corporation, or other entity in
any
manner whatsoever any information concerning any matters affecting
or
relating to the business of Sitestar Corporation or any other information
concerning the business of Sitestar Corporation, its manner of operation,
its plans, processes, or other data without regard to whether all of
the
above-stated matters will be deemed confidential, material, or important.
|
| 5. |
The
parties specifically and expressly stipulate that the prohibited
activities are important, material, and confidential and gravely affect
the effective and successful conduct of the business and the good will
of
Sitestar Corporation.
|
| 6. |
In
the event that an administrative tribunal or court of competent
jurisdiction finds that either the geographical area or duration of
the
covenants set forth in this agreement are unenforceable, the offending
provision may be reformed and conformed by such adjudicatory body to
a
reasonable standard.
|
| 7. |
In
the event of a breach of any of the provisions of this agreement by
the
undersigned, Sitestar Corporation shall, without election of any remedy,
be entitled to enforce this agreement by injunction and to seek and
receive monetary damages. In any such proceeding, the prevailing party
shall be entitled to an award of costs and reasonable attorney fees
against the other party.
|
| DATED this 28th day of February, 2007 | |||
|
Xxxxx
Xxxxxxxxx
|
