FTC Announces Final Rule Banning Non-Compete Agreements

23 May 2024 12:10 PM | Lynette Pitt (Administrator)

by Derrick Foard, Ellis & Winters, LLP

As I wrote about last year for the NCADA’s Employment Law Practice Group (here), the non-compete agreement is quickly falling out of favor. At that time, we previewed the proposed rule by the FTC that would largely ban non-compete agreements.

On April 23, 2024, the final rule was announced. It bans all new non-compete agreements, and it largely invalidates existing non-competes. Existing non-competes for senior executives remain valid. To qualify as a senior executive, a worker must earn more than $151,164 annually and be in a policy-making position.

Read full article here.

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