Non Compete Agreement
Following the termination of the agreement of the Independent Contractor by the Broker, with or without cause, or the voluntary termination by the Independent Contractor, the Independent Contractor shall refrain from directly or indirectly soliciting or attempting to solicit the business of any client, agent, loan officer, or Associate Broker of the Broker for his own benefit or that of any third person or organization, and shall refrain from directly or indirectly attempting to obtain the withdrawal from the contract of the Broker any of Broker's agents, loan officers employees or Independent Contractors. Independent Contractor agrees not to have an interest or create a 100% commission real estate brokerage or loan company that charges a flat fee per real estate or loan transaction for a period of 5 years upon termination. If any of the above is breached, Contractor agrees to pay a $50,000 fee/fine to Broker per occurrence.
The Independent Contractor acknowledges that, in the course of performing and fulfilling his duties, he may have access to and be entrusted with confidential information concerning the present and contemplated activities of the Broker and client information, the disclosure of any of which confidential information to competitors of the Broker would be highly detrimental to the interests of the Broker. The Independent Contractor further acknowledges and agrees that the right to maintain the confidentiality of such information constitutes a proprietary right which the Broker is entitled to protect. Accordingly, the Independent Contractor covenants and agrees with the Broker that he will not, during the continuance of this agreement, disclose any of such confidential information to any person, firm or corporation, nor shall he use same, except as required in the normal course of his engagement here under, and thereafter he shall not disclose or make use of the same.
Each paragraph of this agreement shall be and remain separate from and independent of and severable from all and any other paragraphs herein except as otherwise indicated by the context of the agreement. The decision or declaration that one or more of the paragraphs are null and void shall have no effect on the remaining paragraphs of this agreement.
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Document Name: Non Compete Agreement
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