Note that in many jurisdictions, eternal contract provisions are treated very skeptically. Often you can terminate them after a reasonable time just by writing to the company and saying so: "In the absence of further consideration..."

It is common for state law to make non-compete clauses wholly unenforceable. They put them in anyway, hoping you will be fooled.

New York investment banks are used to paying former employees to do nothing for a year after they leave, before they are allowed to, in effect, compete. Without paying, they would have no grounds to object to anything.

Consult a lawyer first: "Many" is far from "all". It is always better to have all this nailed down up front.