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Employment Agreement Sample 3


Employment Agreement Sample 3 Page 2
Employment Agreement Sample 3
5. Competing Businesses
During the period of his employment under this Agreement, the Employee shall not be employed
by or otherwise engage in or be interested in any business in competition with the Company, or with any of
its subsidiaries or affiliates, except that the Employee's investment in any such business shall not be
considered a violation of this paragraph if either (a) the Employee owns less than [number]% of the equity
thereof, or (b) such business is not in competition with the Company.
6. Confidentiality
During and after the Employment Period, the Employee will not divulge or appropriate to his own
use or to the use of others, in competition with the Company, any secret or confidential information or
knowledge pertaining to the business of the Company, or of any of its subsidiaries, obtained by him in any
way while he was employed by the Company or by any of its subsidiaries.
7. Remedies
If at any time the Employee violates to a material extent any of the covenants or agreements set
forth in paragraphs 5 and 6, the Company shall have the right to terminate all of its obligations to make
further payments under this Agreement. The Employee acknowledges that the Company would be
irreparably injured by a violation of paragraph 5 or 6 and agrees that the Company shall be entitled to an
injunction restraining the Employee from any actual or threatened breach of paragraph 5 or 6 or to any
other appropriate equitable remedy without any bond or other security being required.
8. Amendment and Termination This Agreement may be amended or cancelled by mutual
agreement of the parties without the consent of any other person and, so long as the Employee lives, no
person, other than the parties hereto, shall have any rights under or interest in this Agreement or the subject
matter hereof The Employment Period shall terminate as of the earliest of:
(a) [date];
(b) the last day of the month in which the date of the Employee's death occurs; or
the date on which the Company gives notice to the Employee if such termination is for Cause or Disability.
(c) For purposes of this Agreement, "Cause" means the Employee's gross misconduct resulting in
material damage to the Company or willful and material breach of this Agreement.
9. Notices
Any notice required or permitted to be given under this Agreement shall be sufficient if in writing
and if sent by registered mail to the Company at its principal executive offices or to the Employee at the
last address filed by him in writing with the Company, as the case may be.
10. Non-Assignment
The interests of the Employee under this Agreement are not subject to the claims of his creditors
and may not be voluntarily or involuntarily assigned, alienated or encumbered.
11. Successors
This Agreement shall be binding upon, and inure to the benefit of, the Company and its successors
and assigns and upon any person acquiring, whether by merger, consolidation, purchase of assets or
otherwise, all or substantially all of the Company's assets and business.
12. Applicable Law
Employment Agreement Sample 3