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FORM OF LOYALTY AND CONFIDENTIALITY AGREEMENT

Confidentiality Agreement

FORM OF LOYALTY AND CONFIDENTIALITY AGREEMENT You are currently viewing:
This Confidentiality Agreement involves

RENT A CENTER INC DE

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Title: FORM OF LOYALTY AND CONFIDENTIALITY AGREEMENT
Date: 3/10/2006
Industry: RENTAL     Sector: SERVIC

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exv10w17
 

Exhibit 10.17

FORM OF LOYALTY AND CONFIDENTIALITY AGREEMENT

<employee name>

     THIS LOYALTY AND CONFIDENTIALITY AGREEMENT (“Agreement”) is entered into between the undersigned individual (the “Employee”) and Rent-A-Center, Inc., together with its subsidiaries and affiliates whether hereafter acquired or formed (the “Company”), collectively referred to as the “parties.” As a condition of employment, in exchange for the opportunity to participate in the 2006 Amended and Restated Long Term Incentive Plan of Rent-A-Center, Inc. (“LTIP”), for the mutual promises of the parties herein, and for other good and valuable consideration, each of which is independently sufficient to support this Agreement, the parties agree as follows:

SECTION 1. Duty of Loyalty. Employee agrees to avoid conflicts of interest and promptly inform the Company of any business opportunities that are related to Company’s line of business. Employee will avoid competing with Company, setting up a business to compete with the Company, or undertaking other disloyal acts while employed with Company.

SECTION 2. Confidentiality and Business Interests. The parties agree to the following to protect the Company’s legitimate business interests:

     2.1. Definitions. Company’s “Confidential Information” means the Company’s trade secrets and any other legally protectable information retained by the Company that the Company has not authorized for disclosure to the public. The parties agree that, without limitation, some examples of the Company’s Confidential Information are: the Company’s High Touch Store System database, internally created lists of customers, customer leads or prospects, customer history and analysis including but not limited to demographic and other research related to current and prospective customers, market analyses; internally created or maintained information concerning assessments of Company’s employees and key vendor or contractor relationships; and, Company’s business and strategic plans, marketing plans, real estate information, product purchasing information, product pricing information, product service information, non-public rent-to-own and financial services industry data, market penetration and concentration analyses, non-public financial or operational records or data, and research and development information regarding new products or services not yet released to the public. Additionally, the Company’s non-public compilations of otherwise available information that attain greater value or utility because of time and expense invested in a unique compilation, analysis, or formatting will be considered Confidential Information. Information disclosed to the general public by Company through proper means is not considered Confidential Information.

     2.2. Company Authorizations.. Upon the Effective Date of this Agreement, Company will do one or more of the following: (a) provide Employee with authorization to access and use some of the Company’s Confidential Information (such authorization may be provided through a computer password, authorization letter, or other means); and/or, (b) provide Employee authorization to develop and use goodwill of the Company through, for

 


 

example, authorization to represent the Company in communications with customers and prospective customers, expense reimbursements in accordance with Company policy limits, and/or assistance in facilitating contact with customers, and/or (c) provide Employee with authorization to participate in specialized management training related to the business and Confidential Information of the Company. The foregoing agreement is a fully enforceable ancillary agreement at the time made. It is not contingent upon continued at-will employment for any certain length of time, but it is contingent upon Employee’s full compliance with the restrictions provided for in this Agreement.

     2.3. Employee Non-disclosure. Employee agrees not to engage in any unauthorized use or disclosure of Company’s Confidential Information. Nothing herein will be construed to prohibit Employee from a disclosure that is compelled by law; provided, however, that Employee agrees to give Company as much notice as is possible (presumably 5 business days or more) before disclosure under such circumstances. And, Employee will cooperate in the Company’s efforts to protect its Confidential Information. Employee will help maintain records on Company customers, suppliers, and other business relationships, and will not use these records to harm the business of the Company. Employee will return to the Company all of the foregoing records and any other Company records and copies thereof (physical or electronic) in Employee’s possession or control upon termination of employment or earlier if so requested, and will not retain any such material or information except where expressly authorized in writing to do so.

SECTION 3. Protective Covenants. Employee agrees that the covenants below are (i) reasonable and necessary for the protection of legitimate business interests of Company, and (ii) do not place an unreasonable burden upon the Employee’s ability to earn a living.

     3.1. Definitions. “Customer” means a person or entity that has an ongoing

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