» » Maryland Non-Compete Agreement Template

Maryland Non-Compete Agreement Template

Create a high quality document online now!

The Maryland Non-Compete Agreement Template represents a Company’s intention to restrict its Recipients from disclosing the company’s proprietary information or materials for a predetermined (by the company) amount of time. These restrictions can only be enforced if the Company has obtained proof of the Recipient’s promise to adhere to them. A contractual agreement between these two parties will remedy this need nicely. It will provide a method of holding the Recipient accountable if he or she uses Company Information in a manner that competes (directly or indirectly) with the Company’s interest in the marketplace. This sort of security will permit the Company to pursue its professional relationship with the Recipient with confidence.

Similarly, the Recipient will be protected from any unfair accusations since this paperwork will be specific about what the Company will hold the Recipient accountable for. Once this template has been filled out and signed it cannot be changed and the agreement will be set until it naturally terminates.

There is no general statute or regulation that governs non-compete agreements in the state of Maryland. Non-compete agreements are enforceable If there is adequate consideration, it is ancillary to the employment contract, the restraints are limited in geographic scope and its lifespan is not unreasonably long. That is, its specifics must be tailored to the situation at hand so that both parties are protected and neither suffers damages from the successful term of this paperwork. Make sure to be familiar with any local level statutes that influence the terms the Company wishes to set before documenting them in this paperwork.

Laws – None

How to Write

1 – The First Article In This Paperwork Will Focus On Introductions

This contract’s participants will be introduced in the “1. Purpose” section. This will need to be done manually, thus locate the first space in this section’s first statement then supply the concerned Company’s Legal Name (as it appears on the books). 

The next party to be introduced will be the Recipient of this contract. That is, the individual who will make the promise to avoid unfairly competing with the concerned Company using its information. Declare the Contract Recipient’s Identity by entering his or her Full Legal Name on the second blank space.

2 – The Terms of Non-Compete Must Be Solidified To Apply Them To This Document

In “2. Non-Compete/Disclosure,” it will be time to address the rules this contract will expect the Recipient to follow. The Company and Recipient must make sure they are in full agreement regarding these rules. Place a check mark in each box that corresponds to a statement that should be included in this contract.

The paragraph labeled “Business Practices” provides a method to verify the Recipient promise that he or she will not represent a threat of competition by dealing in the same (or similar) products and services the Company does either directly, indirectly, independently, or through a third party. Mark this check box to include the language this paragraph uses in this contract.The Company may safeguard its interests with its customers by marking the “Clients/Customers” paragraph. This statement will state the Recipient intention to not deal in similar products/services as that of the Company.Most businesses will have competitors. If the Company wishes a promise from the Recipient that he or she will not engage in business with its competitors, the third checkbox (“General Customer(s)”) should be selected.Many companies will be in direct competition with certain other entities that provide similar products and services. If the Company desires a guarantee from the Contract Recipient that he or she will not engage in business with these entities, the “Specific Customer(s)” checkbox should be marked.The Company may decide it requires a solid promise from the Recipient that he or she will not engage in business with its professional relationships listed in the last paragraph. If so, then mark the “Employees” statement.

3 – This Paperwork’s Effect Must Be Attached To A Specific Time Period

Enter a reasonable and specific amount of time in which the employee must agree to maintain all confidentiality of company information and clients onto first statement’s blank space in “3. Time Period.” Then, select the statement that either lists the start event of this contract as either the Execution Date (first checkbox) or the termination of the Company/Recipient relationship (second checkbox).

4 – This Agreement Will Allow The Company’s Consideration At The Company’s Discretion

If the Company would like to offer the Contract Recipient the opportunity to provide a payment in exchange for a release from the terms listed here, then mark the first checkbox under the words “4. Purchase Option” and enter the dollar amount the Company requires to provide this relief. Otherwise, if the Company expects these terms to be obeyed for the full Period of Effect listed above, then mark the second checkbox.

5 – The Official Jurisdiction Where This Contract Is Valid Must Be Declared

The next article that will request information from the Preparer will be “5. Jurisdiction.” Supply the State where this paperwork will be enforced onto the blank space supplied in this statement.

6 – This Agreement Requires Binding Signatures From The Participating Parties

The paperwork of this agreement must have a definitive Date of Execution reported on it. This item will need to be furnished in “13. Entire Agreement” as a Two-Digit Calendar Day, Month (written out), and Year using the three empty spaces presented in the “In Witness Whereof” statementThe areas below this statement “The Company” and “Recipient” will each call for some items. The Company Representative will need to sign the blank line “Signature,” then print his or her name on the “Print Name and Title” line. This second line should have the Title held by the signature party reported after his or her printed name. The last required item will be the Company Representative’s Signature Date presented on the final line of this column.

The individual who intends to follow these Company Directives of Non-Competition should sign his or her name directly below the column heading “Recipient.” This should be followed by the Recipient’s Printed Name and Date of Signature