Illinois Employee Agreement with Covenant not to Compete
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How to fill out Employee Agreement With Covenant Not To Compete?
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FAQ
(a) No employer shall enter into a covenant not to compete with any employee unless the employee's actual or expected annualized rate of earnings exceeds $75,000 per year.
Under the new law in 2022, employers may not enter into a covenant not to compete with any employee who earns (or is expected to earn) $75,000 or less per year, and may not enter into a non-solicitation agreement with an employee who earns (or is expected to earn) $45,000 or less per year.
California law bars covenants not to compete in nearly all circumstances.
Generally, under Illinois law, continued employment suffices as consideration to enforce restrictive covenants in employment agreements. The only qualification to this general rule is the employment continues for a ?substantial period of time? to be sufficient consideration.
Are discriminatory restrictive covenants illegal? Generally, yes. Since the United States Supreme Court's 1948 decision in the case Shelley v. Kraemer, restrictive covenants based on race have been unenforceableA contract will not be enforced by a court of law..
The reasonableness of a restrictive employment covenant often is considered using the following six factors: Length of time the restriction operates; Geographical area covered; Scope of business covered; Fairness of and business need for the protection ed to the employer;
Minimum Salary Requirements: Covenants not to compete are only enforceable against employees whose ?actual or expected annualized rate of earnings? is over $75,000 per year; likewise, to enforce a covenant not to solicit against an employee, their rate of earnings must exceed $45,000 per year.