EXHIBIT 10.15
CONFIDENTIALITY AND
NON-COMPETE AGREEMENT
In
consideration of my employment with Franklin Electric Co., Inc.
(“Employer”) and other good and valuable consideration,
the receipt and sufficiency of which consideration are hereby
acknowledged, I agree on this ____ day of ____, in the year _______
as follows:
CONFIDENTIALITY
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I acknowledge
that Employer has certain non-public confidential information,
including (a) technical information, such as drawings,
specifications, design tolerances, manufacturing methods and
processes, as well as research and development efforts, results and
plans, and (b) client information, such as client contact
information, contract terms, client listings, files, purchase
history, needs and preferences; (c) financial information, such as
sales plans and forecasts, sales and earnings figures,
profitability information, and pricing; (d) corporate strategies,
new product, marketing and other strategic plans; and (e) personnel
files and information (“Confidential Information”). I
understand that my employment with Employer places me in a position
of trust and confidence, and in the course of my employment with
Employer and because of the nature of my responsibilities, I have
received and will receive access to Employer’s Confidential
Information, which I recognize and agree is highly sensitive and
valuable, and is the exclusive property of Employer.
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During my
employment with Employer and thereafter, I will maintain all
Confidential Information that comes into my possession as
confidential and as the exclusive property of Employer, and such
Confidential Information shall not be disclosed by me nor used by
me in any way, except as required by my duties to, and for the
benefit of, Employer. I will not remove any Confidential
Information from Employer’s premises except as my duties
shall require and as authorized by Employer.
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Upon any
termination of my employment, I will immediately turn over all of
the following to my supervisor, and I shall retain no copies
thereof: all documents and files (whether paper, digital,
electronic or otherwise) that were supplied to me by Employer, or
that were obtained or created by me pursuant to my duties for
Employer, including all drawings, designs, specifications, manuals,
keys, computer equipment and software, computer printouts and
databases, and any other materials supplied to me by Employer or
purchased with Employer’s funds, and all copies (whether
copied onto paper, electronic, digital, tape, or other media)
thereof.
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COVENANT NOT TO COMPETE, NOT TO HIRE EMPLOYEES,
AND OTHER COVENANTS
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A. Activity
Covenant: For a period of eighteen (18) months after I cease to be
employed by Employer for any reason, I will not directly or
indirectly engage in, or assist any other person or entity to
engage in, any Restricted Activity. “Restricted
Activity” as used herein means: (i) the design, development,
manufacture, assembly, or distribution of electrical submersible
motors, electrical submersible motor controls and submersible pumps
that are sold, or are offered or intended for sale, within or to
the United States or the European Union in competition with those
designed, developed, manufactured, assembled, distri
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