News & Analysis as of September 25, 2024

Non-Compete Agreements › Internal Revenue Code (IRC)

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Non-Compete Agreements are contracts, typically formed in employment or business purchase contexts, where one party agrees to refrain from engaging in a particular line of work or pursuing business within a certain industry or locale. The purpose of these agreements is to protect employers or business purchasers from competition stemming from former employees or former owners of a business. less -

Code Red: AHA and FHA Acknowledge Industry Distortions to Emerge from the Threat to Regulate Nonprofit Hospitals Wherever Possible

Seyfarth Shaw LLP on 8/19/2024

As we recently reported, in its Final Rule banning most worker non-competes, the Federal Trade Commission (“FTC”) previously warned of its intent to vigorously enforce its non-compete ban wherever possible, which may include...more

American Hospital Association and Federation of American Hospitals File Amicus Brief in the Ryan Case

Stevens & Lee on 8/1/2024

In an earlier report, we examined the recent decision of the U.S. District Court for the Eastern District of Pennsylvania in ATS Tree Services, Inc. v. FTC, in which the Court rejected the plaintiff’s request for the...more

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 4—Timing of Taxation under Code...

Morgan Lewis - ML Benefits on 5/22/2024

This is the fourth part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC) banning the enforcement of almost all noncompete...more

Section 457(f) Plans and Noncompete Clauses: What the IRS Gave, the FTC May Take Away

Verrill on 5/21/2024

When the IRS published proposed regulations harmonizing key provisions of Code Sections 409A and 457(f) in 2016, executive compensation lawyers and consultants rejoiced. It was not just that a long wait was over (roughly nine...more

Don’t You Forget About Me: Terminating Employees and Benefits to Think About

Foley & Lardner LLP on 3/29/2024

No matter the size of your organization, at some point in time employees leave. As we noted previously, it behooves human resources and other departments to provide departing employees with an exit letter that includes...more

Winter 2023 Employment and Benefits Updates

Sullivan & Worcester on 3/7/2023

SECURE 2.0 Act - As part of a large year-end piece of legislation, the provisions known as SECURE 2.0 Act of 2022 (“SECURE 2.0”) were enacted into law. SECURE 2.0 represents a broadly bipartisan piece of legislation that...more

FTC’s Proposed Non-Compete Ban: What Prior Decisions and Guidance May Reveal About the Impact on Nonprofit Healthcare Providers

Stevens & Lee on 2/1/2023

In a prior post, we discussed the FTC’s recently-issued Proposed Rule that would, if finalized in its current form, and with only limited exceptions, prohibit employers from using non-compete clauses. With respect the...more

FTC Proposed Non-Compete Ban: Impact on Nonprofit Hospitals and Nonprofit Affiliates

Stevens & Lee on 1/12/2023

As has been extensively reported, on January 5 the Federal Trade Commission (“FTC”) proposed a rule (the “Proposed Rule”) that would, with only limited exceptions, prohibit employers from using non-compete clauses. More...more

Common Diligence Issues for Startup and Emerging Technology Companies

Foley & Lardner LLP on 10/21/2022

As an emerging or startup technology company seeking funding, your focus is likely on your product - it is the core of your business. That being said, how you protect your technology and set up the company that owns it can be...more

Proposed 457(f) Regulations: Opportunities and Challenges

McDermott Will & Emery on 6/7/2017

The 2016 proposed regulations significantly expanded 457(f) plan sponsors’ ability to permit elective deferrals, use noncompetition agreements and make larger severance payments than otherwise permitted under 409A without...more

IRS Issues Proposed Regulations Affecting Deferred Compensation Plans of Tax-Exempt Organizations

Locke Lord LLP on 7/19/2016

On June 21, 2016, after more than 15 years of ongoing deliberations, the U.S. Department of the Treasury (the Dept. of Treasury) issued proposed regulations under Section 457 of the Internal Revenue Code of 1986 (the Code),...more

The Impact of Recently Proposed Regulations on Ineligible Nonqualified Plans Under Internal Revenue Code § 457(f)

Mintz - Employment Viewpoints on 7/8/2016

The Treasury Department and the Internal Revenue Service recently issued comprehensive proposed regulations governing nonqualified plans subject to tax under Internal Revenue Code § 457. Code § 457 prescribes the tax rules...more

IRS Issues Proposed Regulations Under Code Section 457

Proskauer Rose LLP on 7/1/2016

On June 21, 2016, the Internal Revenue Service (IRS) issued long-awaited proposed Treasury Regulations prescribing rules under Section 457 of the Internal Revenue Code (the "Code") for the income taxation of deferred...more

IRS Issues Regulations Affecting Compensation Arrangements at Tax-Exempt Organizations

McDermott Will & Emery on 6/23/2016

On June 21, the IRS issued long awaited proposed regulations under Section 457 of the Internal Revenue Code that affect a broad range of compensation arrangements at tax exempt organizations. If a compensation arrangement is...more

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Non-Compete Agreements › Internal Revenue Code (IRC)

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