34-51-202. Exceptions for non-compete agreements.
(1) This chapter does not prohibit: a reasonable severance agreement mutually and freely agreed upon in good faith at or after the time of termination that includes a non-compete agreement or a healthcare non-compete agreement; or a non-compete agreement or a healthcare non-compete agreement related to or arising out of the sale of a business, if the individual subject to the non-compete agreement or healthcare non-compete agreement receives value related to the sale of the business.
(2) Notwithstanding Subsection, a severance agreement remains subject to any requirements imposed under common law. (1)(a)