Executive Compensation

Yesterday, the Federal Trade Commission issued a Final Rule essentially banning non-competes for all US workers and invalidating existing non-compete clauses for all US workers other than senior executives.

The rule is slated to go into effect in 120 days, but the U.S. Chamber of Commerce and other organizations have already filed a lawsuit seeking…

New York employers: Article 6 of the New York Labor Law, among other things, currently exempts individuals employed in a bona fide executive, administrative, or professional capacity whose earnings exceed $900 per week from certain protections under the law, including:

  1. payment “not less frequently than semi-monthly”,
  2. requiring advance, written consent for direct deposit, and
  3. the

…

The extended comment period for the FTC’s sweeping proposal to ban non-competes has now ended. In total, the FTC received nearly 27,000 comments.

Coming in just under the wire was a letter penned by 18 state Attorneys General (including those from California, New Jersey, New York, and Washington DC) (see here: Microsoft Word – 2023.04.19…

This week, the Federal Trade Commission proposed a new rule that would ban employers from requiring any employees to enter into non-competition agreements based on the proposition that doing so constitutes an unfair method of competition and therefore violates Section 5 of the Federal Trade Commission Act. 

The sweeping language of the proposed rule (which…