Peter A. Steinmeyer, a Member of the Firm in the Employment, Labor & Workforce Management practice, in the firm’s Chicago office, authored an article that was showcased as a Thomson Reuters Practical Law legal update, titled “Epstein Becker: Illinois Appellate Court Holds Employer's Waiver of Non-Compete Period to Avoid $1 Million Payment Was Ineffective.”
Following is an excerpt:
This Law Firm Publication by Epstein Becker & Green, P.C. discusses the recent Illinois Court of Appeals decision, Reed v. Getco, LLC. There, the court ordered the employer to pay a departing employee $1 million for a previously negotiated six-month non-competition period (paid "garden leave") despite the employer's attempt to evade the payment by waiving the non-competition period.
The article was originally published on Epstein Becker Green's Trade Secrets and Noncompete Blog.
