Do I have to sign employee agreement?

am in NC and have been employed by the same insurance agency for 12 years. In January it was bought out by a new person and yesterday I was given a new employee agreement to sign which included a non compete clause that stated I could not work for another agency within 50 miles of both Raleigh, NC and Cary, NC for at least 2 years upon termination of employment from there. This is not what any agreement has said before and I have lost several benefits under the new ownership so I am not comfortable with signing this new agreement. Am I required to sign this? When I advised that I needed more time to look it over before signing I was told I would be suspended without pay until Friday and at such time it would need to be signed in order to return to work. After some discussion back and forth, I was eventually permitted to use my vacation time but still forced to leave work until Friday