Exactly. So per the non-compete, you'd have to take a position where you are only 40% as valuable as you could be—and the 60% noncompete makes up the difference.
It's probably a bad deal for people who are extremely specialised and want to stay that way, but it'd be a pretty good deal for people like me, who love an excuse to learn something new.
If an honest engineer sees a problem which is exactly the same as one she solved at a previous company, and it is still the best solution, she will solve it in the same way. This has nothing to do with company secrets, it’s basic tradecraft. But it’s covered in many of these agreements. They’ve got to go, plain and simple.
(I was of course being a bit facetious with the 40% metric—real life isn't quite so simple—but saying the noncompete should have 100% compensation is silly. That would only make sense if your ability to work was being completely taken away)