Amendment ID: S3178-383

Amendment 383

Consideration Under Noncompetition Agreements

Mr. Brownsberger moves that the proposed new text be amended by adding the following sections:- 

"SECTION XXX. Clause (vii) of subsection (b) of section 24L of chapter 149 of the General Laws, as appearing in the 2024 Official Edition, is hereby amended by striking out, in lines 104 to 105, the words: ', provided that such consideration is specified in the noncompetition agreement'.

SECTION XXX. Clause (vii) of said subsection (b) of said section 24L of said chapter 149, as so appearing, is hereby further amended by adding the following sentence:-

If the noncompetition agreement is supported by other mutually-agreed upon consideration in lieu of a garden leave clause, then the other mutually-agreed upon consideration must be negotiated in connection with and at the time of the employee’s separation from employment and must be reasonably equivalent in value to the garden leave payments otherwise required by this clause."