Our Courts have held that a covenant not to compete is valid if the covenant is: "`(1) in writing, (2) entered into at the time and as a part of the contract of employment, (3) based on valuable considerations, (4) reasonable both as to time and territory embraced in the restrictions, (5) fair to the parties, and (6) not against public policy.'"
Exterminating Co. v. Griffin and Exterminating Co. v. Jones, 258 N.C. 179, 181, 128 S.E.2d 139, 140-41 (1962) (quoting
Asheville Associates v. Miller and Asheville Associates v. Berman, 255 N.C. 400, 402, 121 S.E.2d 593, 594. (1961)). "Where the covenant is entered into in connection with an employee's being hired for a job, it is generally held that `mutual promises of employer and employee furnish valuable considerations each to the other for the contract.'"
Reynolds & Reynolds Co. v. Tart, 955 F.Supp. 547, 553 (W.D.N.C.1997) (quoting
Greene Co. v. Kelley, 261 N.C. 166, 168, 134 S.E.2d 166, 167 (1964)). However, when the restrictive covenant is entered into after an already existing employment relationship, the covenant must be supported by "new consideration."
Greene Co., 261 N.C. at 168, 134 S.E.2d at 167 (emphasis added) (citing
Kadis v. Britt, 224 N.C. 154, 29 S.E.2d 543 (1944)).