Virtual
Overview (Program Summary)
A program hosted by:
ACC Greater PhiladelphiaWEBINAR LINK:
https://accinhouse.zoom.us/j/97349969052
11:00 a.m. - 12:00 p.m.
"The FTC’s Noncompete Rule – What it Says, How to Prepare and Will it Survive?"
Presented by Fisher Phillips
The FTC held a made-for-video-streaming public meeting on Tuesday April 23 to announce its long-awaited new Noncompete Rule. As was widely anticipated, the new rule is a full ban on all non-competes outside of a sale of business, beginning 120 days from publication in the Federal Register, with only very limited exceptions. The presenters will discuss:
- how to prepare to comply (there is a 120 day period)
- what to expect from legal challenges to the rule (2 are already on file)
- the status of sale of business covenants (largely remain enforceable)
- the very limited carve out for ‘senior executives’
- the status of nonsolicitation and confidentiality/nondisclosure agreements
- the retroactive effect of the rule
- status of garden leaves, noncompetes with pay, forfeiture clauses, training cost repayment agreements, bonus repayment agreements and notice clauses
The panel also will highlight some limitations on the FTC’s scope of authority over certain employers, such as not-for-profits and certain federally regulated financials, but will also report on comments from the public meeting and rule commentary indicating FTC efforts to expand its reach even in these sectors.
Speakers:
- Risa Boerner, Partner, Fisher Phillips
- Christopher Stief, Regional Managing Partner, Fisher Phillips
- Joseph F. Murphy, Senior Managing Counsel, Evernorth Health Services, a division of The Cigna Group