It is at many HFT firms, including mine. You will be paid your base salary for some number of months to not work at a competitor, even if you don't have a signed offer for a competitor and just want to sit around
That's called "garden leave" and it's completely different from non-compete agreements as discussed by this bill.
The terms are used somewhat interchangeably in colloquial use, because (at least as of now) the distinction isn't meaningful for most people. The point is that garden leave isn't targeted by this bill.
The second bill would allow for garden leave aka compensated non-competes. It just codifies the "don't try any non-compensated/good faith aspect".
That is not true - there are four criteria for non-competes to be valid in NY, and payment for the duration is not one of them.
> I don't think that is true, or at least I have not seen that anywhere. My understanding is this bill removes any kind of non-competes.
There are two bills - one of them requires payment for noncompetes.