Fill and Sign the Noncompetition Covenant by Seller in Sale of Business Form

NON-COMPETITION COVENANT BY SELLER To induce the Purchaser to enter into this Agreement, to pay the purchase price herein provided and to otherwise perform the obligations hereunder, the Seller hereby covenants to the Purchaser as follows: (a) He will not for a period of _________________ years from the date fixed for the closing, engage, directly or indirectly, in the business of buying, selling, brokering, importing, exporting, or manufacturing items or products of any kind whatsoever related to the sale of this business or, that he will not during such period of time be connected or have any financial or other interest, directly or indirectly, with any person, firm, or corporation engaged in any of such businesses, and that he will not act in any capacity for another person, entity or corporation engaged in any of such businesses, whether as employee, agent, principal, consultant or otherwise.(b) The covenant of the Seller referred to in subparagraph (a) above, may be assigned by the Purchaser to any person, firm or corporation to whom may be transferred the assets, the intention of the parties being that the said convenient on the part of the Seller shall inure to the benefit to any person, firm or corporation that may succeed to the interests acquired by the Purchaser hereunder, with the same force and effect as if the said covenant had been made directly to such successor.Seller_______________________________________________________________ Date______________