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Partnership Non-Compete Agreement
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For good consideration and as an inducement for partnership
Partner Name
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Last
Partner Name:
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Vernel Trainor
The term "partner's" as used herein shall apply to the signed parties of this agreement.
The undersigned partner's hereby agrees not to directly or indirectly compete with the business or services during the period of this agreement and for a period of seven years following the termination of this agreement and notwithstanding to cause or reason for termination. Each party has the right to terminate this agreement with proper noticed in writing but, all conditions still apply above.
The term "non compete" as used herein shall mean that the said partner shall not own, manage, operate, consult substantially similar to or competitive with the present business of our services or such other business activity in which partner's substantially engage during the term of agreement.
In compensation for services under this agreement, Partner's agree to a verbal agreement or if not settlement arises the said sum of twenty five percent of any gross income derived from clients or partner activities in and throughout the media, entertainment, amusement, music and publishing industries.
The term "gross income" as used herein includes, without limitation, salaries, earnings, fees, royalties, gifts in lieu of income, bonuses, shares of profit, shares of stock, partnership interests, percentages and the total amount paid for a package television or radio program (live or recorded), motion picture or other entertainment packages, earned or received, directly or indirectly, by partner or partner heirs, executors, administrators or assigns, or any other third party form or corporation on partner/client behalf as a result of the activities described above.
Partner's acknowledges that they shall or may in reliance of this agreement provide with or access to trade secrets, clients and other confidential data and good will. Partner's agrees to retain said information as confidential and not to use said information on his or her own behalf or disclose same to any third party.
This agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.
Partner Name*
Vernel Trainor
[email protected]
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