Recently, the Florida legislature passed the Contracts Honoring Opportunity, Investment, Confidentiality, and Economic Growth (CHOICE) Act, which gives employers the option to pursue more robust and longer non-compete agreements with certain more highly compensated employees.
ELIGIBLE/"COVERED" EMPLOYEES
- The CHOICE Act only applies to certain “Covered Employees” – i.e., employees and independent contractors who meet both of the following two basic requirements:
- Either: (a) work primarily in Florida; or (b) work for an employer whose principal place of business is in Florida and their agreement is expressly governed by the Florida law; and
- Earn or are reasonably expected to earn a salary greater than twice the annual mean wage of the county in this state in which the covered employer has its principal place of business, or the county in this state in which the employee resides if the covered employer’s principal place of business is not in this state.
- Notably, “salary” includes the annualized base wage, salary, professional fees, and “other compensation for personal services” as well as “the fair market value of any benefit other than cash.” But “salary” does not include things such as health care benefits, severance pay, retirement benefits, expense reimbursement, discretionary incentives/awards, “distribution of earnings and profits not included as compensation for personal services,” or anticipated but indeterminable compensation such as tips, bonuses, or...
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