This agreement is an agreement made between RefreshCo LLC and Employee or Company (name below)
Terms of Agreement
This agreement is effective as soon as signed and shall remain in effect throughout the term of your employment or contracting with RefreshCo LLC and for five years thereafter.
Covenant Not To Compete
You agree that at no time during the term of your employment or contracting as an employee or contractor with RefreshCo will engage in any business activity with any of RefreshCo LLC customers or clients or share any of RefreshCo LLC intellectual property with companies that compete with RefreshCo LLC.
Confidentiality Agreement
The purpose of this agreement is that employees or contractors shall be prohibited from disclosing confidential and proprietary information that is to be shared during the time of your employment or contracting with RefreshCo. The terms “confidential information” shall include, but not limited to documents, records, information of clients and employees of RefreshCo LLC, Intellectual property, product plans, marketing plans, policies and procedures, and any other business information/documents relating to RefreshCo.
For a period of (5) Year immediately following the termination of your employment or contracting.
CONSEQUENCES OF NON-COMPETE AGREEMENT BREACH
1. Legal Action. In the event of a breach of this Non-Compete Agreement by the Employee/Contractor [Insert Employee/Contractor's Full Name], RefreshCo reserves the right to pursue legal action against the Employee/Contractor to enforce the terms of this Agreement. Such legal action may include seeking injunctive relief, specific performance, damages, attorney's fees, and any other remedies available at law or in equity.
2. Financial Consequences: Kickback of Earnings. Alternatively, in lieu of pursuing legal action, the Employee/Contractor shall have the option to settle the breach by agreeing to pay [RefreshCo] (the "Company") a sum equal to twenty-five percent (25%) of the gross earnings generated from any customer or client of the Company, with whom the Employee/Contractor conducts business in violation of this Agreement. This financial obligation shall be due within 30 days from the date of the [RefreshCo] (the "Company") written demand.
3. Acknowledgment of Options. The Employee/Contractor acknowledges that they have been provided with two options to settle a breach of this Agreement: (a) legal action by RefreshCo, which may result in injunctive relief, specific performance, and damages, or (b) the payment of a kickback of earnings as specified in section 2 above. The Employee/Contractor understands and agrees that RefreshCo may choose either option, at its sole discretion.
4. Full Compliance. The Employee/Contractor acknowledges that this Agreement is essential to protect the legitimate business interests of RefreshCo and agrees to fully comply with its terms. The Employee/Contractor further understands that a breach of this Agreement may result in significant financial and legal consequences.
5. Severability. If any provision of this Agreement is found to be unenforceable, such provision shall be deemed modified to the extent necessary to make it enforceable, and the remaining provisions of this Agreement shall remain in full force and effect.
6. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the state of Georgia, without regard to its conflict of law principles.
7. Venue. Any legal action or proceeding arising under or relating to this Agreement shall be brought exclusively in the state or federal courts located within the state of Georgia, and the parties hereby consent to the personal jurisdiction and venue of such courts.
8. Entire Agreement. This Agreement constitutes the entire understanding between the parties concerning the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether oral or written.
9. Amendments. Any amendments or modifications to this Agreement must be in writing and signed by both parties.