There is no statute of limitations on the agreement because it does not actually kick in until you leave the company. If you start your own competing company, then they have the right to sue you and obtain the injunction.
However, CA does not really like non-competes in general, so it would be likely that they would not uphold it if you were not a high level employee in the company and if you went to work for another company in another city. But since you are starting a competing business, you are likely to have a problem, but you can fight them and then see what the courts say by arguing they are restricting your ability to earn a living.
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