There has been a lot of movement in executive employment recently, especially in the energy sector. Most of these positions require the prospective employee to sign an employment contract which almost always contains a non-compete clause or other language attempting to limit a former employee’s employment options. If there is not a non-compete in the contract, the company may try to get the exiting employee to sign a similar “severance agreement.”
In any event, it is certainly advisable to have any such agreement reviewed by counsel. A small investment of time and money may pay big dividends downstream.
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