The Advisor acknowledges that the provisions of Articles 5, 6 and 7 of this agreement are reasonably necessary to protect the legitimate interests of the company, proportionate in terms of scope and duration and are not overly restrictive. The Advisor also acknowledges that a violation of one of the provisions of Articles 5, 6 or 7 of this agreement will cause irreparable harm to society and that legal protection for breach is insufficient and that, therefore, the company is entitled to demand any fair, but not limited, exemption from termination assistance, and any other remedies available under the legislation or agreement between the parties. The Advisor recognizes that the approval of the harm caused to the business is not a court of order by the protection of the omission. Damages and claims for omission are appropriate remedies and should not be considered alternative remedies. 17. The company undertakes to provide the advisor with sufficient information (“information”) about the business and financial affairs of the company so that the advisor can use this information to obtain the buyer. The entity assures, guarantees and obliges the advisor and any purchaser that this information, made available or provided by the company in accordance with the provisions of this agreement or in connection with transactions provided for this purpose, does not contain, omit or omit any false factual information on the date indicated to provide the statements it contains. , taking into account the circumstances in which they were made, are not misleading. 3.1 Compensation. The company pays the advisor monthly for the services provided to the company under this agreement. The monthly allowance is paid in the first month after the month in which the services were provided. Monthly compensation is paid regardless of the number of hours the counsellor has completed in a given month. [Another way is to pay every hour and need monthly documentation.
The monthly allowance would be reduced by the hourly rate for the number of hours that are less than the hours without hours.] One of the last things a buyer wants to do is sell your business, then turn around and launch another one directly on the road, which takes away most of your customers. That`s why buyers want you to sign a non-compete agreement as part of the agreement. The agreement stipulates that in exchange for a given payment, you promise not to go to a similar type of business within a given geographic area for a specified period of time. Sometimes the agreement states that you promise not to use certain confidential business secrets, business processes, customer lists, etc., which you pass on to the buyer. But non-compete bonds have another purpose: to transport more cash to the seller, in a form that has tax advantages for the buyer. All non-competition agreements must be depreciated over a period of fifteen years, regardless of their actual duration. Since most non-competition prohibitions last five years or less (and must be short to be valid), this rule makes them much less attractive.