As a protection measure for the continuity of a business, many ways and rules are applied by the company, one of which is through a vendor non-compete agreement. This is an agreement made formally to regulate and prevent employee/ other vendors from engaging in competing work activities in the same line of business as the employer/company. This means, the company is trying to block any activity that could result in reduced market share.
This Non-Compete Agreement is entered into between (Employee) and (Company Name) on the _ day of in the year 20 _. [Company Name] is located at [Address] and is represented by [name of representative] in this agreement.
WHEREAS, the Company is in the business of [describe type of business].
WHEREAS, the Employee and the Employer have entered into a formal Employment agreement where the Employee will perform duties related to their position as a [Job Title]; and
WHEREAS, the Employee agrees to the restrictions described herein as binding.
THEREFORE, the Employer and the Employee agree to the following terms:
IN WITNESS WHEREOF, both parties agree to these terms and give their consent and authority to this agreement below.
Employee Signature _ Date _ Employer
Representative Signature __ Date