Kentucky Non-compete Agreement Template

The Kentucky Non-Compete agreement is created when a corporation, entity, or organization intends to assure that the recipient they are dealing with will not, under any circumstances, use its confidential information against it. The mentioned confidential information usually means, but is not limited to:

  • Any type of production-related data, including design, manufacturing techniques, know-how, developments, and experimental work
  • Computer programs and databases
  • Information about the company’s partners, sponsors, or clients
  • Marketing and management tools
  • Company’s statistics
  • Financial reports

Everything that the company has publicly revealed or well-known facts about the subject enterprise is not classified as confidential.

Depending on the non-compete agreement example terms, the recipient is not allowed to do the following while on tenure:

  • Provide services or industry products similar to those of the subject company without their written consent.
  • Engage in similar business activity with the company’s current or former clients.
  • Collaborate with the rival companies, either for money or other non-monetary gains—even a non-profit collaboration may be considered an NCA breach.
  • Hire, work alongside, or partner with the current company’s staff members.

The Company indicates a specific validity period during which the recipient is obliged to comply with the Kentucky Non-compete Agreement’s terms. The agreement comes into force either on its signing date or right after the employment contract termination. Once the binding non-compete agreement becomes invalid, the recipient must return all documents and other tangible materials representing commercial value and containing the company’s confidential information.

The recipient can revoke all liability and withdraw from the agreement by making payment to the company. Usually, the payment amount in US dollars is defined in the NCA unless the company provides its official (preferable written) refusal.

If both parties are satisfied with the terms of the contract, they claim to work under prescribed conditions by appending their signatures, printed names, and dating the paper.

If the recipient happens to breach any part of the agreement, they guarantee to reimburse the company for any loss or damage resulting from unauthorized disclosure.

Kentucky NCA Laws and Restrictions

Presently, there are no laws that regulate the NCA compilation in Kentucky. The document is considered valid if it clearly states its purpose, jurisdiction, duration, and main points the parties have agreed upon.

In 2014, a Kentucky court was considering a case of imposing a Non-Compete Agreement over a hired employee. The court held that such practices would not be recognized lawful in the state, creating an obvious precedent.

Other Kentucky Forms

Try out our document builder to customize any form found on FormsPal to your requirements. Here is a number of various other fillable Kentucky documents we offer.

Published: Feb 11, 2021