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Alec Nealon is a principal in the Houston, Texas, office of Jackson Lewis P.C. Alec advises clients on a broad range of executive compensation and employee benefits matters, including in the context of corporate transactions.

Alec provides counsel to employers and management teams on all aspects of designing, negotiating and drafting employment, consulting, termination, severance, change in control and restrictive covenant agreements (including non-competition, non-solicitation and confidentiality arrangements), equity-based compensation plans and cash bonus plans. Alec regularly represents employers in connection with hiring, termination and implementation of management transition programs, and advises on compliance with Sections 409A and 280G of the Internal Revenue Code.

The Federal Trade Commission published a proposed rule[1] Jan. 5 that would effectively prohibit noncompete clauses for employees and other workers in all but very limited circumstances.[2]

This article focuses on the impact the proposed rule could have on employee benefit and compensation arrangements, if it becomes effective in its current form.

Golden Parachute

As we enter the fourth quarter of 2022, sponsors and administrators of employee benefit plans have a lot to juggle.  From open enrollment and required notices to plan document deadlines, it is a busy time of year.  Yet, there always seems to be something new to add to the mix.   This year is no different.