Update: On December 22, 2023, New York State Governor Kathy Hochul vetoed the bill that would ban all new non-competition agreements for workers in New York. News reports indicate that Governor Hochul sought to limit the ban on non-compete agreements to individuals earning up to US$250,000, while sponsors of the bill were ultimately agreeable to a US$300,000 limit, and both sides differed on how bonuses and stock options should be counted for this purpose. See, e.g., Hochul Vetoes Ban on Noncompete Agreements in New York, New York Times (December 22, 2023). Employers should expect a revised bill to be introduced next year.
The New York State Legislature passed a bill on June 30, 2023, that, if signed into law by Governor Kathy Hochul, will prohibit almost all new non-competition agreements for workers. The law will take effect 30 days after the Governor signs it and shall apply to contracts entered into or modified after such effective date. As noted below, the bill's language leaves open certain questions that may need to be resolved through litigation or further action by the New York State Legislature.
The bill amends the New York State Labor Law by adding a new Section 191-d to (i) prohibit employers, corporations, partnerships, limited liability companies or other entities from seeking, requiring, demanding or accepting a "non-compete agreement" from any "covered individual" (Section 191-d(2)), and (ii) provide that every...
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