Restrictive covenants (non-compete clause) in Fintech
Hi all -
I just received an job offer from a fintech firm.
The contract states that in the event of a termination of the employment, there shall be 6 months of "restricted period" (unpaid) during which I must not work for a competitor or engage in any relevant businesses. It also stipulates that I must show this restrictive covenants clause to the potential employers who offer me a job.
To me this sounds rather punitive and would prevent me from securing future job opportunities in the industry.
I am wondering if this is standard? Maybe unique to the fintech industry? Many thanks in advance
The non-compete should apply, if at all, only if you quit. Not reasonable for you to be locked out of the industry for six months if they terminate you (for cause or otherwise).
Yeah don't sign that.
Not a lawyer, but 95% sure that's completely unenforceable. If they want an enforceable non-compete, they need to pay you throughout.
Corporis inventore autem neque aut et. Optio dolor provident aut vel. Quos voluptatem et placeat fuga et ipsa tenetur.
Vel numquam unde et est alias. Incidunt tempora ut qui ab. Sed sunt ratione voluptate quos at.
Eos sed consectetur ut. Exercitationem repudiandae dolores asperiores rerum. Qui laboriosam eligendi nobis officia nostrum consequatur ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...