[tomhoward]

It could work out really well; they'd have loads more time to spend with their kids, and could take on other part-time/casual non-competing work to make up the difference.

I can imagine plenty of people would accept the option of taking 75% of their salary to spend all/most of their time with their young kids for a couple of years.

After tax, it might not work out to much of a difference anyway, especially after you consider the other incidental expenses relating to work (transport, attire, etc).

Of course, no agreement is going to be 100% perfect in every scenario, but this is way more even-handed than a one-way non-compete with no compensation at all.