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5 Year Non Compete Agreement
"Need a 5 Year Non Compete Agreement for our outgoing CTO who has access to sensitive AI technology; agreement should be effective from March 2025 and cover Singapore and Malaysia, with specific focus on protecting our machine learning algorithms and research data."
1. Parties: Identification and details of the contracting parties
2. Background: Context and purpose of the non-compete agreement including the employment relationship
3. Definitions: Key terms used tHRoughout the agreement including 'Restricted Business', 'Territory', and 'Confidential Information'
4. Scope of Non-Compete: Detailed description of prohibited activities and restrictions on competition
5. Duration: Time period of restrictions (5 years) and commencement date
6. Geographic Scope: Territorial limitations of the agreement and jurisdictional coverage
7. Consideration: Value provided in exchange for the non-compete commitment
8. Remedies: Consequences of breach, enforcement mechanisms, and injunctive relief provisions
1. Garden Leave: Provisions for paid non-compete period immediately following employment termination
2. Non-Solicitation: Additional restrictions on approaching customers, employees, or suppliers
3. Severability: Provisions allowing court modification and partial enforcement if some terms are found invalid
1. Schedule A - Restricted Activities: Comprehensive list of specific prohibited activities, businesses, and competition restrictions
2. Schedule B - Restricted Territory: Detailed geographic scope with specific countries, regions, and jurisdictional bouNDAries
3. Schedule C - Consideration Details: Breakdown of compensation, benefits, or other consideration provided for the non-compete
4. Appendix 1 - Confidential Information: Detailed definition and examples of protected confidential information and trade secrets
Authors
Restricted Period
Restricted Territory
Competitive Business
Confidential Information
Trade Secrets
Intellectual Property
Business Relationships
Material Interest
Competitor
Group Company
Associated Company
Customer
Prospective Customer
Key Employee
Business Products
Business Services
Consideration
Restricted Activities
Garden Leave
Direct Competition
Indirect Competition
Proprietary Information
Senior Management Position
Termination Date
Non-Competition
Non-Solicitation
Confidentiality
Duration
Geographic Scope
Consideration
Acknowledgments
Reasonableness
Independent Advice
Remedies
Injunctive Relief
Severability
Survival
Assignment
Modification
Governing Law
Jurisdiction
Entire Agreement
Notices
Waiver
Third Party Rights
Garden Leave
Return of Property
Enforcement Costs
Force Majeure
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