My question involves labor and employment law for the state of: Arizona
I am going to be working at Loandepot as a Loan Originator in training and I have some concerns about the non-compete agreement which I will write verbatim below. My main question is, what if I am terminated whether I was/ or was not at fault. And can Loandepot lock me out of being a loan officer completely because that is what the non-compete sounds like. It is also not tied to any one state as Loandepot has offices nationwide I believe.
Employee agrees that, for six months following the termination of his or her employment with loanDepot regardless of reason for the employment termination, Employee will not, directly or indirectly, anywhere within the "Restricted Geographic Location," as that term is defined herein, on behalf of any person or entity that provides loan services and/or products or does business in any other manner similar to loanDepot, perform the same or substantially the same job duties as Employee performed during his or her employment with loanDepot whether as an owner, stockholder,partner, officer, director, manager, conultant, and/or employee. Employee further agrees that he or she will not solicit business within the Restricted Geographic location from any are outside of the Restricted Geographic Location for the six months after the termination of Employee's employment regardless of the reason for the termination of employment. "Restricted Geographic Location" means any are within 100 miles of any office(s) or business location of loanDepot where Employee worked.
I am going to be working at Loandepot as a Loan Originator in training and I have some concerns about the non-compete agreement which I will write verbatim below. My main question is, what if I am terminated whether I was/ or was not at fault. And can Loandepot lock me out of being a loan officer completely because that is what the non-compete sounds like. It is also not tied to any one state as Loandepot has offices nationwide I believe.
Employee agrees that, for six months following the termination of his or her employment with loanDepot regardless of reason for the employment termination, Employee will not, directly or indirectly, anywhere within the "Restricted Geographic Location," as that term is defined herein, on behalf of any person or entity that provides loan services and/or products or does business in any other manner similar to loanDepot, perform the same or substantially the same job duties as Employee performed during his or her employment with loanDepot whether as an owner, stockholder,partner, officer, director, manager, conultant, and/or employee. Employee further agrees that he or she will not solicit business within the Restricted Geographic location from any are outside of the Restricted Geographic Location for the six months after the termination of Employee's employment regardless of the reason for the termination of employment. "Restricted Geographic Location" means any are within 100 miles of any office(s) or business location of loanDepot where Employee worked.
Non-Compete Agreements: Can Non-Compete Lock Me Out of an Industry in Arizona, Have Part of Non-Compete Type
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