Anyone with actual experience of noncompete payout?

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anonymous

Guest
Hello all,

I know this is a bit off topic since I am in research, but I am hoping that folks who have been through this before could help with some specifics. I am about to leave Novo and have generated a significant amount of intellectual property for them, so it is quite likely that they will want to enforce the noncompete clause. I am assuming that: A) the salary they pay for the year is the Novo base salary, not the salary of the job you would otherwise be taking, B) that Novo quits covering any kind of medical, etc and that all of that goes back to the "non-employee" to pay via COBRA, and C) that the standard minimum yearly bonuses disappear - base salary only with no adjustments because it is no longer a "job" and the details of the prior contract are void.

Are these correct? How did the details work in your particular situations?

I am thinking of going this route and just trying to figure out what I could count on.

Best regards!
 

anonymous said:
Hello all,

I know this is a bit off topic since I am in research, but I am hoping that folks who have been through this before could help with some specifics. I am about to leave Novo and have generated a significant amount of intellectual property for them, so it is quite likely that they will want to enforce the noncompete clause. I am assuming that: A) the salary they pay for the year is the Novo base salary, not the salary of the job you would otherwise be taking, B) that Novo quits covering any kind of medical, etc and that all of that goes back to the "non-employee" to pay via COBRA, and C) that the standard minimum yearly bonuses disappear - base salary only with no adjustments because it is no longer a "job" and the details of the prior contract are void.

Are these correct? How did the details work in your particular situations?

I am thinking of going this route and just trying to figure out what I could count on.

Best regards!
Click to expand...

I would suggest you use all that "intellectual property" that you have to quit soliciting advice on Café Pharma.
 
anonymous said:
Hello all,

I know this is a bit off topic since I am in research, but I am hoping that folks who have been through this beforeBUDDIE THIS SITE IS ONLY FOR SAMPLE DROPPERS AND FOOD DROPPERS help with some specifics. I am about to leave Novo and have generated a significant amount of intellectual property for them, so it is quite likely that they will want to enforce the noncompete clause. I am assuming that: A) the salary they pay for the year is the Novo base salary, not the salary of the job you would otherwise be taking, B) that Novo quits covering any kind of medical, etc and that all of that goes back to the "non-employee" to pay via COBRA, and C) that the standard minimum yearly bonuses disappear - base salary only with no adjustments because it is no longer a "job" and the details of the prior contract are void.

Are these correct? How did the details work in your particular situations?

I am thinking of going this route and just trying to figure out what I could count on.

Best regards!
Click to expand...
 
Many thanks! Such refreshingly useful information...

What Novo does in a noncompete payout is governed by their policy, not by law. I am trying to find out their precedent behavior for noncompete payouts, which other folks posting here have said they went through. This is not about research vs sales, it is only about the actual experience of what Novo does in these situations.

If anyone here has actual experience with how Novo structured your payout I would appreciate any information you are willing to share.
 
anonymous said:
Many thanks! Such refreshingly useful information...

What Novo does in a noncompete payout is governed by their policy, not by law. I am trying to find out their precedent behavior for noncompete payouts, which other folks posting here have said they went through. This is not about research vs sales, it is only about the actual experience of what Novo does in these situations.

If anyone here has actual experience with how Novo structured your payout I would appreciate any information you are willing to share.
Click to expand...

Again. You are an idiot to solicit advice on an anonymous message board. There is no requirement for anyone to say anything that is true. They can feed you bad information with no ramifications on them whatsoever. Are you starting to follow me, Mr. Intellectual Property? Spend a couple of bucks and get a lawyer who can review the non-compete document that you signed and give you REAL information.
 
OK. Y'all think I'm an idiot. Got it.

Now, let's go back to the initial question and see if anyone is willing to answer it.

I am hoping to hear what Novo actually does in one of these payouts from someone who has gone through the process. Not random thoughts.

1) It does not matter what state you live in, the documents are governed by the laws of NJ.
2) I am not asking whether the noncompete is enforceable, it clearly is.
3) I do not need a lawyer, because what Novo can do is not the question. Novo has no legal obligation to pay out the year's salary - this is only a matter of what they internally promise and do. Can anyone here describe from experience what happened to you during a Novo noncompete payout?

And yes, of course people can lie. Information can be wrong. Big deal. Most people aren't jerks for no reason.
 
I have personal and recent experience with the non-compete payout for Novo. You are correct. It is 1yr base salary only with all applicable withholding. It is per payroll calendar. You are also correct that you will not be receiving benefits other than COBRA. The non-compete is also enforced on a case by case basis with no standard protocol for enforcement.
 
anonymous said:
I have personal and recent experience with the non-compete payout for Novo. You are correct. It is 1yr base salary only with all applicable withholding. It is per payroll calendar. You are also correct that you will not be receiving benefits other than COBRA. The non-compete is also enforced on a case by case basis with no standard protocol for enforcement.
Click to expand...

#fakenews. The above post is 100% incorrect.
 
Looks like the #FakeNews comment is, predictably, #FakeNews itself.

Many thanks for the info on what Novo did during your payout. That isn't surprising as it meets the minimum requirements of what they vaguely promise in the noncompete document. I wouldn't expect anything more, but it is good to get at least one data point about actual behavior.
 
anonymous said:
Looks like the #FakeNews comment is, predictably, #FakeNews itself.

Many thanks for the info on what Novo did during your payout. That isn't surprising as it meets the minimum requirements of what they vaguely promise in the noncompete document. I wouldn't expect anything more, but it is good to get at least one data point about actual behavior.
Click to expand...

Are you sure your "one data point" is even true? How would you know?
 
anonymous said:
Hello all,

I know this is a bit off topic since I am in research, but I am hoping that folks who have been through this before could help with some specifics. I am about to leave Novo and have generated a significant amount of intellectual property for them, so it is quite likely that they will want to enforce the noncompete clause. I am assuming that: A) the salary they pay for the year is the Novo base salary, not the salary of the job you would otherwise be taking, B) that Novo quits covering any kind of medical, etc and that all of that goes back to the "non-employee" to pay via COBRA, and C) that the standard minimum yearly bonuses disappear - base salary only with no adjustments because it is no longer a "job" and the details of the prior contract are void.

Are these correct? How did the details work in your particular situations?

I am thinking of going this route and just trying to figure out what I could count on.

Best regards!
Click to expand...
People who want a non-compete never get one. In other words, if you want to leave the company then leave. Don't expect Novo to pay you for a 1 year vacation. You're not as important as you think.
 
anonymous said:
Are you sure your "one data point" is even true? How would you know?
Click to expand...

Since y'all are too lazy to fake data but instead just give baseless opinions which a simple webseach show to be false... I'll go (cautiously) with the person who actually answered the question and whose answer actually fits with Novo's past behavior, documented legal precedent (court dockets, etc.), and what the actual documentation says. This is just like behavioral interviewing for a job posting - people tend to be specific about their actual experience and vague about their opinions and made up B.S. Please note that one person concretely answered each point of the question and the rest aren't, they're either saying "BS" without actually providing anything new or specific or just trying to sow doubt by "just asking questions" (JAQing off).

There's a lot of other information out there, I've already done that homework. The detailed response fits with all of that like a missing puzzle piece, the other comments fit like a Duplo block in a Lego set. It is pretty obvious really.

Many thanks (again) to the one person who actually answered the question.

Best regards.
 
anonymous said:
Since y'all are too lazy to fake data but instead just give baseless opinions which a simple webseach show to be false... I'll go (cautiously) with the person who actually answered the question and whose answer actually fits with Novo's past behavior, documented legal precedent (court dockets, etc.), and what the actual documentation says. This is just like behavioral interviewing for a job posting - people tend to be specific about their actual experience and vague about their opinions and made up B.S. Please note that one person concretely answered each point of the question and the rest aren't, they're either saying "BS" without actually providing anything new or specific or just trying to sow doubt by "just asking questions" (JAQing off).

There's a lot of other information out there, I've already done that homework. The detailed response fits with all of that like a missing puzzle piece, the other comments fit like a Duplo block in a Lego set. It is pretty obvious really.

Many thanks (again) to the one person who actually answered the question.

Best regards.
Click to expand...

Boy, you're quite the sleuth, aren't you. If you had "Novo's past behavior, documented legal precedent (court dockets, etc.), and actual documentation", why would you ever go to an anonymous chat board to solicit advice? It's like reading the details of the package insert of a medication, but then asking a random stranger in a gas station what they think about the medicine.

Good luck, and here's something you can take to the bank: Novo won't pay you a penny NOT to work for them, unless you are a VP level or higher and got it written into your severance package. A non-compete doesn't guarantee you money because you choose to leave the company. Anyone who tells you it does is giving you #fakenews.
 


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