Today’s New York Times contains an excellent article on the increasing use of so-called “stay or pay” clauses in employment agreements. Once an employee signs a contract with a “stay or pay” clause, if that employee quits before X months/years (each contract is different), the employee will have to repay the employer for the costs… Read More
Posts Tagged With: non-compete
FTC Proposes Nationwide Ban on Non-Compete Clauses
On Thursday, January 5, the Federal Trade Commission (FTC) announced a new proposed rule that would ban employers nationwide from using non-compete clauses. These clauses, which are often inserted into employment agreements, typically prohibit the employee from leaving the employer’s business and, for a 1- or 2-year period, working for any other business that competes… Read More
