Mandatory Non-Compete 3 years into job?

I have been with my company selling wild game meat to upscale accounts for over 3 years. Last year the company was sold and I signed a new confidenitality agreement at the time. Last week my company filed chapter 11 and is re-organizing in a new state. They have asked me to sign a new confidentiality agreemant AND a non-compete. If I do not sign the non-compete I will lose my job. They are not offering me any "consideration" for this new non-compete. Is this legal? The company is based in MN but I telecommute from NY.
Thanks!

1 answer  |  asked Nov 9, 2004 8:05 PM [EST]  |  applies to New York

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Answers (1)

David M. Lira
What's sufficient consideration

Although non-compete provisions in employment agreements have a checkered history in New York State, one issue that is not in doubt is that an employee's continued employment is deemed to be sufficient consideration.

For those of you who are not contract law experts, for a contract to be legally binding, each side must give the other something of value. That exchange of value is called "consideration."

posted by David M. Lira  |  Nov 10, 2004 08:09 AM [EST]

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