Own your own corporation : why the rich own their own companies and everyone else works for them by Sutton Garrett

Author:Sutton, Garrett
Language: eng
Format: epub
Tags: Small business, Home-based businesses, Self-employed
Publisher: New York : Warner Books
Published: 2001-08-05T16:00:00+00:00

Key Employee] shall devote his entire time, attention, and energies to the business of the Company and shall not, during the term of this Agreement, be engaged (whether or not during normal business hours) in any other business or professional activity, whether or not such activity is pursued for gain, profit or other pecuniary advantage; but this shall not be construed as preventing the [Founder/Key Employee] from:

(a) investing his personal assets in businesses which do not compete with the Company in such form or manner as will not require any services on the part of the [Founder/Key Employee] in the operation or the affairs of the companies in which such investments are made and in which his participation is solely that of an investor;

(b) purchasing securities in any corporation whose securities are regularly traded PROVIDED THAT such purchase shall not result in his collectively owning beneficially at any time, five percent (5%) or more of the equity securities of any corporation engaged in a business competitive to that of the Company; and

(c) participating in conferences, preparing or publishing papers or books, or teaching, so long as the Board of Directors approves of such activities prior to the [Founder/Key Employee]'s engaging in them. Prior to commencing any activity described herein, the [Founder/Key Employee] shall inform the Board of Directors of the Company in writing of any such activity.

6. Disclosure of Information.

(a) The [Founder/Key Employee] represents and warrants to the Company that Exhibit "A" hereto sets forth:

(i) all rights, in respect of the [Founder/Key Employee]'s engaging in any business activity (whether or not for profit), of former employers, clients, principals, partners, or others with whom or for whom the [Founder/Key Employee] has performed sen/ices since [when?]; and

(ii) all of the business activities (whether or not for profit) of the [Founder/Key Employee] applicable to periods after the time such services were performed.

(b) The [Founder/Key Employee] recognizes and acknowledges that the Company's trade secrets and proprietary information and processes, as they may exist from time to time, are valuable, special, and unique assets of the Company's business, access to and knowledge of which are essential to the performance of the [Founder/Key Employee]'s duties hereunder. The [Founder/Key Employee] will not, during or after the term of their employment by the Company, in whole or in part, disclose such secrets, information, or processes to any person, firm, corporation, association, or other entity for any reason or purpose whatsoever, nor

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