Courts in New York have long required that non-competes and other post-employment restrictive covenants be supported by adequate consideration in order to be enforceable. In a recent article in Hedge Fund Law Report, Jonathan Shepard and Eric Dowell “provide practical advice on how to draft non-compete language that is likely to be held enforceable even where there is no provision for that pay during the subject non-compete period.”
Read the full article from Pryor Cashman here: https://dgqoanz82argk.cloudfront.net/images/content/7/1/v2/71775/HFLR-How-NYBased-Investment-Managers-Can-Craft.pdf
