Common use of YOUR DUTIES AND RESPONSIBILITIES Clause in Contracts

YOUR DUTIES AND RESPONSIBILITIES. 1. You hereby agree that you will keep confidential and will not reveal to anyone any information whatsoever obtained in the course of you employment relating to any aspect whatsoever of the Company’s business, strategies decision making process, finances, customers, customer lists, purchasing and trade practices, strategies, financial information, sources or related information, to any other person, company, entity group or individual, to the extent that you obtained such knowledge or information while employed by the Company (“Confidential Information”), except that you are not precluded from responding to any inquiry about the Company, your employment, or this Letter Agreement to any self regulatory organization, regulatory, administrative or governmental agency, in response to judicial process or as may be necessary with regard to the preparation and filings with the Internal Revenue Service. 2. To forestall any use or disclosure of Confidential Information in breach of this Letter Agreement, you agree, covenant, and represent that, during the period commencing with the Termination Date and for one year thereafter, you will not directly or indirectly through any person, firm, corporation, or other business entity engage in any activity in competition with the Company’s product opportunities during your tenure, make any financial investment (except that you may own up to 2% of the shares in a publicly traded company that may compete with the Company’s product opportunities during your tenure, or provide other services to a business or individual engaged in competition with the Company’s product opportunities during your tenure. If you violate the terms of this Section C.2, the Company’s obligation to pay installments of the Termination Payments Section A.2.a of this Letter Agreement will immediately cease. However, all other terms of this Letter Agreement shall remain in full force and effect. 3. You acknowledge that the Company’s relationships with its employees, affiliates, consultants, customers, clients, business associates, and other persons are valuable business assets. To forestall any interference with these relationships, you agree, covenant, and represent that during the period commencing with the Termination Date and for one year thereafter, you will not directly or indirectly through any person, firm, corporation, or other business entity: (a) divert or attempt to divert from the Company any business of any kind in which it is engaged, including, without limitation, the solicitation, initiation of contact with, or interference with any of its suppliers or customers; or (b) employ, solicit for employment, or recommend for employment any person employed by the Company. If you violate the terms of this Section C.3, the Company’s obligation to pay installments of the Termination Payments Section A.2.a of this Letter Agreement will immediately cease. However, all other terms of this Agreement shall remain in full force and effect. 4. You further agree, covenant, and represent that you will not take any action or make any comments that actually or potentially disparage, disrupt, damage, impair, or otherwise interfere with the Company’s business interests or reputation, except that you are not precluded from responding to any inquiry about the Company, your employment, or this Letter Agreement to any self regulatory organization, regulatory, administrative or governmental agency, in response to judicial process or as may be necessary with regard to the preparation and filings with the Internal Revenue Service.

Appears in 2 contracts

Sources: Resignation and Release of Claims Agreement (Diet Coffee Inc), Resignation and Release Agreement (Diet Coffee Inc)

YOUR DUTIES AND RESPONSIBILITIES. 1. You hereby agree that you will keep confidential and will not reveal to anyone any information whatsoever obtained in the course of you employment relating to any aspect whatsoever of the Company’s business, strategies decision making process, finances, customers, customer lists, purchasing and trade practices, strategies, financial information, sources or related information, to any other person, company, entity group or individual, to the extent that you obtained such knowledge or information while employed by the Company (“Confidential Information”), except that you are not precluded from responding to any inquiry about the Company, your employment, or this Letter Agreement to any self regulatory organization, regulatory, administrative or governmental agency, in response to judicial process or as may be necessary with regard to the preparation and filings with the Internal Revenue Service. 2. To forestall any use or disclosure of Confidential Information in breach of this Letter Agreement, you agree, covenant, and represent that, during the period commencing with the Termination Date and for one year thereafter, you will not directly or indirectly through any person, firm, corporation, or other business entity engage in any activity in competition with the Company’s product opportunities during your tenure, make any financial investment (except that you may own up to 2% of the shares in a publicly traded company that may compete with the Company’s product opportunities during your tenure, or provide other services to a business or individual engaged in competition with the Company’s product opportunities during your tenure. If you violate the terms of this Section C.2, the Company’s obligation to pay installments of the Termination Payments Section A.2.a of this Letter Agreement will immediately cease. However, all other terms of this Letter Agreement shall remain in full force and effect. 3. You acknowledge that the Company’s relationships with its employees, affiliates, consultants, customers, clients, business associates, and other persons are valuable business assets. To forestall any interference with these relationships, you agree, covenant, and represent that during the period commencing with the Termination Date and for one year thereafter, you will not directly or indirectly through any person, firm, corporation, or other business entity: (a) divert or attempt to divert from the Company any business of any kind in which it is engaged, including, without limitation, the solicitation, initiation of contact with, or interference with any of its suppliers or customers; or (b) employ, solicit for employment, or recommend for employment any person employed by the Company. If you violate the terms of this Section C.3, the Company’s obligation to pay installments of the Termination Payments Section A.2.a of this Letter Agreement will immediately cease. However, all other terms of this Letter Agreement shall remain in full force and effect. 4. You further agree, covenant, and represent that you will not take any action or make any comments that actually or potentially disparage, disrupt, damage, impair, or otherwise interfere with the Company’s business interests or reputation, except that you are not precluded from responding to any inquiry about the Company, your employment, or this Letter Agreement to any self regulatory organization, regulatory, administrative or governmental agency, in response to judicial process or as may be necessary with regard to the preparation and filings with the Internal Revenue Service.

Appears in 1 contract

Sources: Resignation and Release of Claims Agreement (Small Business Co)