So I'm in the process of switching jobs and the new place is asking me to sign a non-compete agreement. I've read it over and over and I think I get the gist of what it's saying but there is a little wiggle room thrown in so I'm hoping someone fluent in legalese could tell me what this is saying in plain English.
To give this some context, the new position is a contract-to-hire position and requires some kind of security clearance (I think it was called an SF85 or something). It is a software engineering job dealing with pretty in-depth levels of encryption which is what I specialized in for my second Masters degree... (I'm trying to get out of the Mechanical Engineering realm (my first Master degree) because ME $$ sucks!).
Here's the agreement:
Restrictive Covenant - In consideration of the term of employment and the efforts and costs incurred by COMPANY, you agree you shall not solicit or engage in a like or similar profession or occupation at Client's facility at which you are directed to or actually perform services under this agreement, either directly or indirectly, for a period of one hundred eighty (180) days following the termination of your employment under the terms of this agreement, unless specific written authorization has been obtained from COMPANY. You agree that any violation of this provision will result in you paying COMPANY an amount equal to three hundred twenty (320) hours at the hourly rate as stated above as compensation for COMPANY'S efforts and costs incurred in connection with your employment hereunder.
I think what it's saying is that I simply cannot go to work for that company directly without written permission and I couldn't work for one of their competitors (of which there are none). Is this correct and would signing this in some way prevent me from being able to work as a software engineer outside of this context for the period in which the non-compete is in effect? Again, I'm just wanting to make sure I'm not overlooking any little loopholes or something here. Thanks in advance!
To give this some context, the new position is a contract-to-hire position and requires some kind of security clearance (I think it was called an SF85 or something). It is a software engineering job dealing with pretty in-depth levels of encryption which is what I specialized in for my second Masters degree... (I'm trying to get out of the Mechanical Engineering realm (my first Master degree) because ME $$ sucks!).
Here's the agreement:
Restrictive Covenant - In consideration of the term of employment and the efforts and costs incurred by COMPANY, you agree you shall not solicit or engage in a like or similar profession or occupation at Client's facility at which you are directed to or actually perform services under this agreement, either directly or indirectly, for a period of one hundred eighty (180) days following the termination of your employment under the terms of this agreement, unless specific written authorization has been obtained from COMPANY. You agree that any violation of this provision will result in you paying COMPANY an amount equal to three hundred twenty (320) hours at the hourly rate as stated above as compensation for COMPANY'S efforts and costs incurred in connection with your employment hereunder.
I think what it's saying is that I simply cannot go to work for that company directly without written permission and I couldn't work for one of their competitors (of which there are none). Is this correct and would signing this in some way prevent me from being able to work as a software engineer outside of this context for the period in which the non-compete is in effect? Again, I'm just wanting to make sure I'm not overlooking any little loopholes or something here. Thanks in advance!
