Just a reminder, the new D.C. limitation on non-competes takes effect October 1, 2022.
As we previously reported in our Alerts dated July 26, 2022, March 14, 2022, September 21, 2021, and January 11, 2021, the law provides several exceptions. For D.C. employers who want to continue to use non-competes but are concerned about individuals who make less than $150,000 in total compensation per year, another option is to include non-compete restrictions as part of a long-term incentive agreement to provide performance-driven incentives typically earned over more than one year such as bonuses, phantom stock shares, or stock appreciation rights.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
