New Graduate Signed a Non-Compete (RCA) and need to renege

I recently had a few things happen to me personally that makes it very difficult to relocate to Chicago. I did not know that the RCA agreement was a non-compete and I signed it before I am set to join a firm in August. I am reneging for a competitor that will allow me to go fully remote (The key reason. A few family members passed away and being remote is key.) 

Those in the industry told me my situation is tragic enough as is and that an employer isn't going to enforce a non-compete and pay me 75k over 6 months to sit and do nothing when I haven't even gone through their training program. I want to believe that but does that make sense for the trading industry

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Comments (2)

  • Analyst 1 in PropTrad
Apr 30, 2022 - 7:53pm

Quick update, upon further review of the RCA/Non-Compete it says this:

The Company and Employee enter into this Restrictive Covenant and Employee Work Made for Hire Agreement (this "Agreement"), effective as of the date of the Employee's commencement of employment.

Since the date of employment is listed on the contract, if I do end up reneging this agreement wasn't initialized until the start date anyways so now I feel a lot less worried.

Apr 30, 2022 - 8:06pm
Ravena, what's your opinion? Comment below:

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