NON-COMPETITION: You agree that you will not, without the prior written consent of the Company, at any time during the term of your employment with the Company and for a period of six (6) months within the province of Ontario following the termination of your employment for any reason, either individually or in partnership or jointly or in conjunction with any person as principal, agent, consultant employee, investor shareholder (other than an investment of less than 5% of the shares of a company traded on a registered stock exchange) or in any other manner whatsoever, carry on or be engaged in or provide any residential/commercial/private mortgage services for any person or entity in the provinces of Ontario and British Columbia, which provides services competitive to those produced by the Company or contemplated by the Company during the term of your employment with the Company.
Need help in Understanding Company Contract Clause! ASAP
- Thread starter SunshineK
- Start date
Get a lawyer to explain it to you or your HR department or read about non-compete clauses. Essentially you can’t go work or invest in a competitor while or straight after leaving this job. It is pretty standard. This is a short non-compete clause.
Basically its a termination clause that states you cant work in the same field in the same area(Ontario and British Columbia). Employer trying to save their interests and protect their competitive edge.
That's my understanding of it.