If a 1099 employee signed non-compete, is it binding?

Question Details:

My company downsized and closed our WI offices in 2008 and laid everyone off. I was offered to come back on a contract basis if I signed a non-compete. In the non-compete I am referred to as the "employee" when I am clearly not one. I pay my own taxes and receive no expense reimbursement and no benefits. I have since left the company so I could pursue a job with a salary and benefits but with a competitor. Does my non-compete hold water for them?

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