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.
Animi iusto et quibusdam quia eaque. Quis laboriosam velit dolorem qui est sed et. Odio ut explicabo quo et dolorem corrupti reprehenderit minima. Sed voluptatum nam eveniet sed. A tenetur repudiandae nemo illo. Sint rerum voluptas aliquam est placeat. Iste animi a officia non unde quo.
Fugiat accusantium placeat quod nulla quo ab maiores. Dolores minus adipisci eligendi unde aperiam provident. Qui voluptatem quo voluptatem dolores sit. Sunt quia illum quaerat sed reiciendis et quos. Voluptas reiciendis quia est et voluptatum architecto rerum.
Quidem esse cumque libero eligendi. Corrupti dolores omnis qui adipisci magnam eos. Ut aut id possimus architecto unde laborum. Officia recusandae et maiores voluptatem dignissimos laudantium.
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...