In early May 2022, New Jersey assemblymen introduced a bill that—if passed—will significantly limit employers’ ability to enter into and enforce employee non-compete agreements. As such, New Jersey may join the growing list of states with laws aimed at limiting non-compete agreements and similar restrictive covenants. Other states that have recently joined the list include Illinois and Colorado. While the specifics of the bill are subject to change as it continues through the legislative process, the draft is worth considering, as it contains some unique measures.
Perhaps most striking is the fact that the bill caps the non-compete period at twelve months post-termination, and requires employers to provide employees one hundred percent of their rate of pay and fringe benefits throughout the non-compete period unless the employee is terminated for misconduct. In other words, under the proposed bill, in order to enforce a non-compete, companies would have to pay terminated individuals as if they were still employed. “Fringe benefits” are defined as “any vacation leave, sick leave, medical insurance plan, disability insurance plan, life insurance plan, pension benefit plan, or any other benefit of economic value, to the extent that the leave, plan, or benefit is paid for in whole or in part by the employer.” The bill also caps liquidated damages at $10,000.00.
Another unique feature of the bill is a post-employment notice requirement. Unless the employee is terminated for...
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