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Compensation & Benefits › Forfeiture

Farrell Fritz, P.C.

The Forfeited Equity Trap: Why Your Non-Compete Might Be Worthless

Farrell Fritz, P.C. on

Imagine you’re a private equity firm. You buy a company, and you want to retain and incentivize key employees, so you give them some equity in the form of incentive units.  You also want to prevent them from running off and...more

Troutman Pepper Locke

Restrictive Covenants Unenforceable Where Consideration Forfeited

Troutman Pepper Locke on

In North American Fire Ultimate Holdings, LP v. Alan Doorly, the Delaware Court of Chancery held that the restrictive covenants included in an incentive unit grant agreement were unenforceable when the units received by the...more

Troutman Pepper Locke

Feeling Competitive: The Reasonableness of Forfeiture-for-Competition Provisions

Troutman Pepper Locke on

In 2024, employers rushed to track the twists and turns of the Federal Trade Commission’s (FTC) noncompete ban, which attempted to limit the enforceability of agreements that restrict employees from working for a competitor...more

Littler

Employee Choice: Forfeiture-for-Competition, the Seventh Circuit’s Questions, and Delaware’s Answer

Littler on

We began 2024 with the Delaware Supreme Court’s decision in Cantor Fitzgerald, L.P. v. Ainslie. We end the year with further clarity around the scope and contours of that decision. On December 17, responding to two questions...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - ERISA Forfeiture Litigation

Williams Mullen on

On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses pending court cases regarding the proper use of forfeitures that arise under defined contribution plans. He outlines how these new...more

Neal, Gerber & Eisenberg LLP

Employee Benefits Alert

Neal, Gerber & Eisenberg LLP on

Use of Forfeitures for Safe Harbor Contributions, QNECS and QMACS - The Internal Revenue Service (IRS) recently issued final regulations allowing forfeitures in 401(k) plans to be used to fund safe harbor contributions,...more

Jackson Lewis P.C.

IRS Finalizes Regulations Allowing Plan Forfeitures To Fund QNECS And QMACS

Jackson Lewis P.C. on

The IRS recently finalized regulations that allow 401(k) plans to use forfeiture money to fund qualified non-elective contributions (“QNECs”) and qualified matching contributions (“QMACs”). ...more

Orrick, Herrington & Sutcliffe LLP

IRS Allows 401k Plan Safe Harbor and ADP ACP Corrective Contributions to be Funded from Forfeitures

Orrick, Herrington & Sutcliffe LLP on

We are pleased to bring you some good news for 401(k) plans from the IRS. The IRS just issued a proposed regulation that allows safe harbor contributions to a 401(k) plan, or employer contributions used to correct a...more

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