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In Split Vote, FTC Approves Controversial Final Rule Banning Most Post-Employment Non-Competes; Rule Already Subject to Challenge in Court
On April 23, 2024, by a 3-2 margin, the FTC voted to finalize its controversial non-compete rule, which, generally, will prohibit businesses from entering into non-compete agreements with nearly all workers across the U.S. going forward and invalidate the existing non-competes of nearly 30 million workers.
Everything You Always Wanted to Know About California’s Workplace Violence Prevention Plan (But Were Afraid to Ask) - Answers to 10 Frequently Asked Questions On California’s New Law
Beginning July 1, 2024, a new California law (SB 553) will require most California employers to establish workplace violence prevention plans. We answer 10 frequently asked questions about the new law below.
Minimum Wage Increases and Ontario Employment Shake-up: What Employers Need to Know
Ontario’s Bill 149, Working for Workers Four Act, 2024, received royal assent on March 21 2024, bringing in new changes to Ontario’s employment landscape. Below are some of the key developments that businesses with employees in Ontario should be aware of.
Section 409A Valuations: Mastering the Art and Science in a Volatile Venture Market
Within the unpredictable landscape of start-ups and private companies, market volatility can significantly alter a company’s financial trajectory. An integral part of navigating this volatility is understanding the role and function of Section 409A[1] valuations. These valuations, which play a critical role in the financial and tax planning strategies of organizations, serve as an independent measure of a company’s common stock value. In this article, we explore the intricacies of Section 409A valuations, focusing on their importance, timing, and methodologies, and offer strategies for engaging with third-party firms to achieve a valuation that most closely aligns with your company’s worth.
Board Warns Employers to Pare Back Overbroad Non-Disparagement and Confidentiality Provisions in Severance Agreements
Severance agreements offered to non-supervisory employees that include broad-based non-disparagement and confidentiality provisions are unlawful according to the National Labor Relations Board. The Board’s decision in McLaren Macomb, 372 NLRB No. 58 (Feb. 21, 2023), reverses Trump administration era Board decisions on this issue, and if upheld, may have far reaching consequences for both unionized and non-unionized workplaces.
From the Edge - In the Boardroom: Special Edition - Lessons from Theranos
Our In the Boardroom: Practical Advice and Guidance podcast series features insights from Mintz Members Steve Osborn, Melanie Levy, and Tom Burton on a wide variety of topics specific to boards. With the conviction and 11-year sentence for former CEO Elizabeth Holmes, the team looks at the lessons to be learned from Theranos. The team discusses (1) the importance of open communication between board members and executives, (2) fostering a culture of compliance, and (3) tips for picking up on the early-warning signs.
Corporate Boards' Role In Workplace Vaccine Mandates
Given the importance of the employee stakeholder to the corporate mission, and the board's obligation to manage corporate risks associated with employee health and welfare, corporate boards may have a role in workplace vaccination mandates.
What You Need to Know To Be An Effective Board Member For a Private Company
By Bertie Magit
While many materials instruct directors on their fiduciary duties, there are fewer resources available addressing the day-to-day responsibilities delegated to directors. This article helps directors and companies understand the general areas of responsibility of directors.
Restricted Stock Units Unpacked
By Jacob Neumark
For many startup companies, compensating directors, officers, and employees can pose quite the challenge. While startup companies want to lure top talent, and incentivize workplace continuity and employee buy-in, they are often stressed for capital, and need to keep overhead costs low. One common approach to balancing these interests is for companies to offer restricted stock units (“RSUs,”) to their directors, officers, and employees as a form of compensation.
"Gig" Workers May Become Eligible to Receive Equity Compensation
By Dan DeWolf and Sanjana Ramkumar
The Securities and Exchange Commission (the “SEC”) recently voted to propose temporary rules to permit companies to provide equity compensation to certain workers known as “gig” or “platform” workers.
Statutory – not Shareholder – Activism: Governor Newsom Signs California’s Diversity Mandate into Law
By Jen Rubin
California has enacted the nation’s first diversity mandate for public company boards. As we previously reported, the new law (AB 979) builds upon California’s first-in-the-nation statutory gender mandate for public company boards.
Formation 101: Founder Stock and Vesting
In the second installment of Mintz’s multi-part series addressing common questions relating to establishing a new enterprise, Sam Effron and Sebastian Lucier discuss the issuance of shares to the founders, the mechanics and reasoning behind vesting and some important tax consequences relating to share issuances.
Part Ten of the COVID-19 Roadmap Series: Workplace Communications and Trainings
By Tyrone P. Thomas & Danielle M. Bereznay
In the final part of our Roadmap Series, as employers prepare to transition to on-site operations for segments of their staff, we discuss considerations for COVID-19 related communications to the workforce. We also address the importance of conducting workplace trainings for managers and staff that address new regulatory considerations for workplace safety, telecommuting arrangements, health screenings, and leave and accommodation requests to prepare for the “new normal.”
Part Nine of the COVID-19 Roadmap Series: Ensuring Compliance – Leave Management
By Corbin Carter, Natalie C. Young, Michael S. Arnold & H. Andrew Matzkin
As management and human resources professionals are well aware, COVID-19 has drastically and rapidly impacted the workplace. Among other things, employees require more flexibility, employers are increasingly reliant upon remote work arrangements, and legislative and administrative responses to the pandemic from various levels of government have created new requirements for businesses, including new leave entitlements for employees. In Part Nine of our Roadmap Series, we explore key considerations surrounding leave management and compliance as employees and businesses navigate this new terrain.
Part Eight of the COVID-19 Roadmap Series: Avoiding COVID-19 Wage & Hour and Labor Law Pitfalls
By Jennifer R. Budoff, Delaney M. Busch, Brendan J. Lowd
In Part Eight of our Roadmap Series, we take a closer look at wage and hour compliance concerns that may arise during the COVID-19 pandemic, and what employers can do to minimize these pitfalls.
Part Seven of the COVID-19 Roadmap Series: Employee Physical and Mental Well-being During the COVID-19 Pandemic
By David Barmak & Jennifer R. Budoff
In Part Seven of our Roadmap Series, we take a closer look at the impact of COVID-19 on employee mental and physical well-being, and what employers can do to assist their workforce.
Part Six of the COVID-19 Roadmap Series: Reporting to Work
By Andrew J. Bernstein & Brie Kluytenaar
As we continue to plan and prepare for the reopening of businesses, Part Six of our Roadmap series examines the when, what, where, and how of returning to work. Given the many considerations this process entails, we encourage employers to begin engaging with these issues now and to consult with counsel so that plans are in place and the groundwork is laid for the eventual reopening of the workplace, whenever that may be.
Part Five of the COVID-19 Roadmap Series: Ensuring a Safe Workplace - COVID-19 Screening and Testing
By Nicole M. Rivers, Michael S. Arnold, Karen S. Lovitch, Hope S. Foster & Cynthia J. Larose
In Part Five of our Roadmap Series, we take a closer look at COVID-19 screening and testing, including best practices and legal implications, as potential tools to maintain a safe workplace.
Part Four of the COVID-19 Roadmap Series: Ensuring a Safe Workplace – Reimagining the Physical Workspace and Business Travel
By Delaney M. Busch, Morgan G. Tanafon & Angel Feng
Given the challenges presented by COVID-19, many businesses must consider large-scale, transformational changes to their operations. As social distancing continues and safety concerns pervade the public consciousness, adjustments to the physical workspace and business travel practices will be necessary to reflect these new considerations. In Part 4 of our COVID-19 Roadmap Series, we outline important planning steps and concerns employers need to consider relating to physical workspaces and business travel.
Part Three of the COVID-19 Roadmap Series: Ensuring a Safe Workplace - Key Guidance for a Healthy Workspace
By Delaney M. Busch & Morgan G. Tanafon
As economies begin restarting and the doors to traditional workplaces are opening, employers face challenges in reorganizing and protecting their places of business. However, the exact measures appropriate and effective for each workspace will largely depend on a worksite risk assessment (see our prior blog posts regarding OSHA and COVID-19 infrastructure). In Part 3 of our Roadmap Series, we outline important guidance, procedures, and concerns employers need to consider to successfully and safely bring back employees to their worksite.
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