A New Mexico Non-compete Agreement is a legal document that restricts an employee's ability to work for competitors or start a competing business after leaving their current employer. This form is designed to protect the employer's business interests while balancing the employee's right to seek employment. Understanding the specifics of this agreement is crucial for both employers and employees in New Mexico.
In New Mexico, the Non-compete Agreement form plays a crucial role in defining the boundaries of competition between employers and employees. This document is designed to protect a business’s proprietary information and trade secrets while balancing the employee's right to seek employment. Key aspects of the form include the duration of the non-compete period, the geographical scope, and the specific activities that are restricted. Employers must ensure that the terms are reasonable and not overly burdensome, as New Mexico courts may not enforce agreements deemed excessively restrictive. Additionally, the form should clearly outline any compensation or benefits provided to the employee in exchange for their agreement. Understanding these elements is essential for both parties to navigate the complexities of employment relationships while safeguarding their interests.
New Mexico Non-Compete Agreement Template
This Non-Compete Agreement ("Agreement") is made effective as of ________ ("Effective Date"), by and between ________, located at ________ ("Employer"), and ________, located at ________ ("Employee"). This Agreement restricts the Employee from certain activities that are competitive with the Employer's business, as detailed below, within the State of New Mexico in accordance with the New Mexico Statutes Annotated (NMSA).
1. Purpose of Agreement
The purpose of this Agreement is to protect the Employer's legitimate business interests including, but not limited to, its confidential information, trade secrets, customer relationships, and goodwill. The Employee agrees to the restrictions set forth in this Agreement as consideration for employment, continued employment, or the special training or knowledge provided by the Employer.
2. Non-Competition
For the duration of the Employee's employment with the Employer and for a period of ________ months after the termination of employment, regardless of the reason, the Employee agrees not to engage in any business activity that is in direct competition with the primary business of the Employer within a ________ mile radius of the Employer's primary place of business in New Mexico.
3. Non-Solicitation
During the term of this Agreement and for a period of ________ months after its termination, the Employee shall not, directly or indirectly, solicit, hire, or attempt to solicit or hire, any of the Employer's employees, contractors, or customers with whom the Employee had material contact during the term of their employment.
4. Confidentiality
The Employee will not disclose, utilize, or allow to be utilized any confidential information or trade secrets obtained during the course of employment with the Employer, unless expressly authorized in writing by the Employer.
5. Return of Property
Upon termination of employment, the Employee agrees to return all company property, including, but not limited to, documents, equipment, and electronic devices, without retaining any copies or notes.
6. Remedies for Breach
In the event of a breach or threatened breach by the Employee of any provision of this Agreement, it is agreed that the Employer shall be entitled to specific performance and injunctive relief in addition to any other remedies available at law or in equity.
7. Severability
If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall nevertheless continue in full force and effect without being impaired or invalidated in any way.
8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of New Mexico, without regard to its conflict of laws principles.
9. Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements between the parties.
10. Acknowledgment
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the first date written above.
Employer Signature: ________
Employer Printed Name: ________
Date: ________
Employee Signature: ________
Employee Printed Name: ________
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