Illinois Clauses Relating to Venture Nonexecutive Employees
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FAQ
compete agreement entered into on or after January 1, 2022, is void unless: The employee receives adequate consideration. The agreement is ancillary to a valid employment relationship. The agreement is no greater than is required for the protection of a legitimate business interest of the employer.
In Illinois, a non-compete agreement can be enforced only if it meets certain criteria and the employee earns more than $75,000 annually. Additionally, a covenant not to solicit must be linked to an employee earning over $45,000 per year.
Although it is not an established rule, some Illinois courts have held that an employer must provide some benefit other than a job that you can be fired from at any time for a non-compete agreement to be enforceable.
Gov. J.B. Pritzker signed a bill on August 11, 2023, requiring all employers with 15+ employees to provide salary ranges and benefits in job postings. The law applies to jobs that are performed in Illinois, as well as remote jobs where the employee reports to a supervisor, office, or other work site in Illinois.
Ing to the statute, adequate considerations is either: The employee worked for the employer for at least 2 years after the employee signed an agreement containing a non-compete agreement. The employer otherwise provided consideration adequate to support an agreement not to compete.
Sec. 10. Prohibiting covenants not to compete and covenants not to solicit. (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.
Although it is not an established rule, some Illinois courts have held that an employer must provide some benefit other than a job that you can be fired from at any time for a non-compete agreement to be enforceable.
A potential ramification of a restrictive covenant is that you may be precluded from working (not just with or for certain clients, but you may also be precluded from working in your chosen profession) in a certain geographic area (e.g. 5 mile radius, 10 mile radius, Chicago, or even all of Illinois or the entire ...
