Under the FTC's new rule, existing noncompete agreements for all workers other than senior executives will no longer be enforceable after the law’s effective date.
Starting in late August, fashion companies are barred from entering into, or attempting to enforce, any new noncompete agreements, even if they are made with senior executives. Noncompetes for senior executives earning at least $151,164 per year who were bound by a restrictive covenant prior the rule’s effective date;Noncompetes related to causes of action that began before the rule’s effective date; andTake artistic director Hedi Slimane, a Midas of sorts. There was a two-year gap between the end of his creations at Saint Laurent and the beginning of his creations at Celine.
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