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Sure, maybe we could have that conversation if noncompetes actually required that...but they don't

What if the competitor offers 150% or more? Then is 100% a fair deal?

Yeah

While I agree that they should go outside, I will point out that the common tactic is to make salary than less than 1/2 of the total compensation. In tech, they issue RDUs and then they can claim that those were always bonus and never part of salary. In finance, they give big bonuses depending on performance. This is a little more legit but usually takes recessions for bonuses to actually disappear.