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Vermont Non-Compete Agreement Template

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The Vermont Non-Compete Agreement Template is a useful precautionary tool a Company can use to protect its interests after divulging its Confidential Information to the Recipient. It is important to note, the State of Vermont does not have any laws directly applicable to the subject of Non-Competition. Therefore placing a contractual obligation on the Recipient to maintain the Company’s confidence before making any relevant information accessible could be considered a wise maneuver.

As with many contracts, both parties should make sure they agree to the terms contained and that each has signed it before the start of their relationship. In this way, there will be no misunderstandings regarding what each party may or may not pursue in relation to Confidential Information and Competition. The terms agreed upon here should take both parties into account and avoid being one-sided.

For instance, if the Recipient intends to continue a career in the relevant industry, he or she cannot be bound by overly stringent conditions for an unlimited amount of time in a broad undefined region. Such a circumstance could cripple his or her career. Any terms that could cause this would not be enforced. Thus, make sure to set the terms in this paperwork to be proportional to the situation both for the Company and the Recipient.

Laws – None

How to Write

1 – Supplement The Initial Declaration Statement With Information

Initially, a summary introduction will structure the wording required for a Business to declare the purpose of this contract while also defining the Contract Recipient’s role. For this introduction to properly summarize this agreement, the Legal Name of the Business and Contract Recipient must be supplied. Use the first blank space for the Legal Name of the Business and the second blank space for the Legal Name of this agreement’s Recipient.

2 – Detail The Rules The Recipient Must Follow

The next portion of this agreement must also have direct input from a Preparer. “2. Non-Compete/Nondisclosure” will feature a list of statements, each exists as a directive meant to apply to the Recipient of this agreement. To include a statement, select the checkbox. To omit a statement from the Recipient’s responsibilities, leave the checkbox unmarked.

The first statement of restriction will concern itself with the Recipient’s “Business Practices.” His or her business may be limited by excluding any action that would compete with the concerned Company’s products/services if this checkbox is marked. The next statement of restriction will focus on the Business’ “Clients/Customers.” The Recipient can be blocked from conducting any business affairs with these entities if the second checkbox is marked.The next two statements of restriction, “General Competitor(s)” and “Specific Competitor(s),” will focus upon Business Entities that compete with the issuing Company. To block the Recipient’s contact with the Company’s competitors, mark the “General Competitor(s)” statement. To keep the Recipient from “Specific Competitor(s)” of the Company, mark the fourth checkbox and document the exact Legal Name of each competitor the Recipient must refrain from dealing with.The last statement of restriction shall name the Company’s “Employees” as entities the Recipient of this agreement may not contact or conduct business with. Mark this check box to apply it.

3 – Provide The Time Frame And Location Where These Rules Apply

The next few items requiring attention will begin with “3. Time Period.” Here, a defined number of months or years when the statements of restriction selected apply to the Recipient of this agreement must be provided. Enter this time period on the blank line in the first statement of “3. Time Period.” The last two statements have been supplied so that a start event to the Recipient Rules selected above can be supplied. This is mandatory for the purposes of this agreement. Thus, if the Rules above apply to the Recipient of this contract as of the Execution of this agreement, mark the first checkbox. If the ending of the Business Entity/Recipient relation is to be the first Calendar Date when these rules go into effect, then mark the second checkbox.There are two ways this agreement may terminate. The Business Entity may nullify it, or it may expire at the end of its Period Of Effect. If the Business Entity will accept a Recipient Payment to prematurely terminate this agreement, checkmark the first checkbox in “4. Purchase Option.” The Payment Amount must be defined before the time of signing, therefore with this possibility, write out the Payment Amount on the first blank line and supply it numerically on the second blank line. If the Rules set in this agreement are to remain active for its full lifespan then, mark the second checkbox.The next requirement to be satisfied will be the appointment of a Vermont Region where the Rules above will be active for the Period of Effect. Look for the item labeled “5. Jurisdiction,” then supply the County, City, and/or Neighborhoods as well as the State where these Rules will be Effective upon the Recipient of this agreement on the available blank line

4 – Each Party Signature Is Required For This Contract’s Execution

Find the “In Witness Whereof, The Parties…” statement then document the Execution Date by supplying its Calendar Date (i.e. 01-31), Month Name, and Year on the first, second, and third blank spaces.The two column headings at the end of this document (“The Company” and “Recipient”) will each present a set of blank spaces which can only accept an item from the Authorized Representative of the concerned Business and the Recipient of this agreement.

The left-hand column, “The Company,” should have the signature and printed name of the Authorized Representative on the first and second blank lines. The Title he or she holds should be furnished on the same blank line as his or her Printed Name. Finally, on the last available line, the Authorized Representative of the concerned Business must report the Date his or her Signature is provided.The Recipient of this agreement will need to tend to the “Recipient” area on the right-hand side of the page. He or she must Sign this document on the Signature line in this section then, furnish his or her printed Name and Date of Signature on the second and third blank spaces.