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WOE
WHIPPL
OD
CPA
s
15
2012 Employee Manual | Effective March 1, 2012
disclosure. If it is determined by the Firm that the business opportunity is of value
to the Firm, that business opportunity will be considered property of the Firm and
if appropriate, a Firm Client.
D. During the time an Employee is active in the Firm, the Employee shall not solicit
any individual or entity, whether a Firm Client, Firm Employee, or other, for any
purpose independent of the Firm. The Employee will not engage in any activity
that competes directly or indirectly with the Firm. In addition to other remedies in
law or equity, the Employee will be subject to immediate termination.
E. For a period of two years after the Employee’s relationship with the Firm is
terminated, voluntarily or involuntarily, the Employee shall not solicit any
individual or entity that was or is a Client of the Firm.
F. If an Employee violates the terms of this Agreement, the Firm may seek injunctive
or other relief as allowed by law or equity. The Employee also agrees the Firm
is entitled to compensation for the lost income resulting from the solicitation in
accordance with the following formula:
Client’s highest month’s billing during the 12 months preceding the Employee’s
termination, voluntarily or involuntarily, multiplied by 12 to establish a potential
annual loss. This would be multiplied by 200%, and the product would be
liquidated damages.
Example: The highest monthly billing during the 12 months preceding
termination = $1,000
$1,000 x 12 = $12,000 projected annual lost income to the firm
$12,000 x 200% = $24,000
Liquidated damages = $24,000
If an Employee solicits or otherwise encourages another employee to leave the
Firm, the liquidated damages will be in an amount equal to the cost, direct and
indirect, of training a replacement employee.
If it is necessary for the Firm to retain an attorney for collection and/or
enforcement, the Employee agrees to pay all costs of collection, including
reasonable attorney’s fees.
V. Trade Secrets:
A. Trade Secrets include, but are not limited to, the whole or any portion or phase
of any scientific or technical information, design, process, procedure, formula,
improvement, confidential business or financial information, listing of names,
addresses, or telephone numbers, formula, pattern, software developed
specifically for the Firm, databases, device, Client names or information, or
compilation of information which is used by the Firm, and which gives the Firm
an opportunity to obtain an advantage over competitors who do not know or
use it.