I have received a Consulting Agreement in the middle of a project.
I live in Cambodia.
The NON-COMPETE clause in question
During the Term of this Agreement and 05 (five) year thereafter, the Consultant shall not engage, directly or indirectly, in any capacity, to be in any competition in the Client or any of its subsidiaries, including any company engaged in the business which is in competition with the Company's business.
Clarifications from comments
@Greendrake Need clarity as to which party is Client and which one is Company. Are they the same thing? Which one do you work for?
Company refers to the CEO and his company. I have read the whole contract and "Client" only appears once in that NON-COMPETE.
The market is small for the services I provide. Only banks are willing to pay for the services. Would this clause prohibit me for offering this service to anyone outside the current company I'm working with?
The CEO, with his lawyer have tried to convince me that this only apply to current client and any past clients that I have work on. Is this true?
If I start my own company, this would also apply to me right? Even if I start a company that provide online courses and don't offer services, this will still apply?
Would this make it impossible for me to take any job from any company in the country that provide this service?
From your view, how fair is this? Should I expect the CEO to offer a fair contract or is this something you read and negotiate? (This service has nothing todo with legal matters and I'm not expected to be good in legal matters)
Country size: around 15 million people
market: Only the capital, with less than 50 clients.