FTC Final Rule Banning Noncompete Provisions: Impact on Deferred Compensation Plans
Scope of the Final Rule, Use of Restrictive Covenants, Challenges for Employers, Preparing for Compliance, and More
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will provide executive compensation and employee benefits counsel guidance on the impact of the recent FTC ban on noncompetes and next steps for amending and structuring compensation plans. The panel will discuss key provisions of the final rule impacting compensation structures, review state law considerations, and address what counsel and clients should be doing now to prepare for compliance despite legal challenges.
Outline
- FTC final rule
- Legal challenges for employers
- Structuring deferred compensation amid FTC ban
- Next steps and preparing for compliance
- Contract review and revision
- Giving notice
- Other considerations
- State law updates
Benefits
The panel will discuss these and other key issues:
- What businesses and workers are covered by the final rule?
- How does the rule define noncompete clauses?
- How will the rule affect other restrictive covenants?
- What action must employers take under the new rule?
- What is the impact to deferred compensation structures?
- What interaction will the final rule have with state laws related to noncompete provisions?
- How should counsel and their clients begin preparing for compliance?
Faculty
Meir D. Katz
Partner
Debevoise & Plimpton
Mr. Katz is a tax partner and member of the firm’s Executive Compensation & Employee Benefits Group. His... | Read More
Mr. Katz is a tax partner and member of the firm’s Executive Compensation & Employee Benefits Group. His practice focuses on a broad range of executive compensation and employee benefits matters in corporate transactions, including public and private mergers and acquisitions and securities offerings, and on the design, negotiation and implementation of employee agreements and equity-based incentive and other compensation programs for public and private companies, financial sponsors, management groups and individual executives. Previously, for several years, Mr. Katz was a member of the firm’s Mergers & Acquisitions Group, in which he worked on domestic and cross-border transactions for many of the firm’s private equity and corporate clients. Mr. Katz is ranked in Chambers USA (2024), where clients note he is “very commercial, super smart and a go-to lawyer.” He has also been described as “a clear communicator” who is “extremely knowledgeable, both technically and commercially.” Mr. Katz is recognized as a Next Generation Partner by The Legal 500 US (2024), where he is said to be “a great collaborator and negotiator.”
CloseMeredith L. O'Leary
Partner
King & Spalding
Ms. O’Leary specializes in executive compensation and employee benefits issues in corporate transactions,... | Read More
Ms. O’Leary specializes in executive compensation and employee benefits issues in corporate transactions, including executive, change in control, equity and equity-based, performance-based and non-qualified compensation arrangements, as well as tax-qualified retirement plans, health and welfare plans and fringe benefits. She regularly advises both public and private clients on employment, compensation and benefits issues that arise in connection with mergers, acquisitions, divestitures, reorganizations and other business transactions, including with respect to securities and tax law. Ms. O’Leary advises clients on issues such as executive compensation proxy disclosures, 280G golden parachute payments, annual and long-term incentive programs, employment and consulting agreements, change in control agreements, and retention and severance arrangements. She also advises on additional aspects of employment and tax law, including withholding issues, COBRA, HIPAA, PPACA, hiring practices, leave policies and practices, employment termination, personnel policies and fiduciary matters. Her clients include financial institutions, private equity funds, hedge funds, pension funds, energy companies, pharmaceutical manufacturers, agribusinesses, airlines, defense contractors and telecommunications entities.
CloseStefan P. Smith
Partner
BakerHostetler
Mr. Smith utilizes his in-depth background in employee benefits and executive compensation law to advise public and... | Read More
Mr. Smith utilizes his in-depth background in employee benefits and executive compensation law to advise public and private companies on establishing and ensuring the continued compliance of tax-qualified defined contribution and defined benefit retirement plans and all forms of executive compensation arrangements. He counsels clients on employee benefits matters that arise during mergers and acquisitions, finding solutions, and helping the deals to move forward. He also works with various health and welfare plans and executive and equity-based compensation. These include incentive and non-qualified stock options, restricted stock awards, stock appreciation rights, employee stock purchase plans, profits interests, phantom equity, performance unit and bonus plans, SERPs and other excess benefit plans, and non-qualified deferred compensation plans.
Close