Photo of Lori Basilico

Lori’s vast experience includes advising employers in connection with employee benefits and executive compensation matters.

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 following employment. Though the FTC’s ban has since fizzled out, the commotion around noncompetes also led to conversations about “forfeiture-for-competition” clauses — a similar, but distinct type of agreement.

On January 16, the Internal Revenue Service (IRS) published proposed regulations (90 FR 4691) under Section 162(m) of the Internal Revenue Code. Section 162(m) generally limits the deductibility of compensation paid in any tax year to covered employees of a publicly held corporation to $1 million.