Waiver of Non-Compete Agreement
This Waiver of Non-Compete Agreement (the "Waiver") is entered into on this 10th day of March 2050, by and between:
[Your Company Name], having its principal place of business at [Your Company Address] ("Employer"), and
Jordan Lee, residing at 456 Oak Street, San Francisco, CA 94107 ("Employee").
WHEREAS, the Employer and Employee previously entered into a Non-Compete Agreement dated June 15, 2045 (the "Non-Compete Agreement");
WHEREAS, the Employer and Employee now desire to terminate or modify the Employee’s obligations under the Non-Compete Agreement;
NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties agree as follows:
1. Waiver of Non-Compete Obligations
The Employer hereby waives and releases the Employee from all obligations and restrictions contained in the Non-Compete Agreement, effective as of March 10, 2050.
2. No Further Obligations
Upon the execution of this Waiver, the Employee shall have no further obligation to comply with the restrictions outlined in the Non-Compete Agreement.
3. No Admission of Liability
This Waiver does not constitute an admission of any liability or wrongdoing by either party and is executed solely to modify the terms of the parties’ previous agreement.
4. Entire Agreement
This Waiver constitutes the entire agreement between the parties concerning the subject matter herein and supersedes all prior agreements or understandings, whether written or oral.
5. Governing Law
This Waiver shall be governed by and construed by the laws of the State of California.
6. Severability
If any provision of this Waiver is deemed invalid or unenforceable, the remaining provisions shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Waiver as of the date first written above.
EMPLOYER:
Name: [Your Name]
Title: Chief Executive Officer
[Your Company Name]
Date: March 10, 2050
EMPLOYEE:
Jordan Lee
Date: March 10, 2050
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