Wework Non Compete Agreement

If Adam does not continue to serve as CEO, it could have a significant negative impact on our business. WeWork`s recent IPO prospectus contained more than a few surprising details, but here`s just one: CEO Adam Neumann, founder and majority shareholder of the company that controls the company`s entire management, doesn`t have an employment contract. Non-compete obligations are now maintained for only 100 executives. About half of the company`s U.S. employees will have a modified non-compete clause. The New York attorney general has reached an agreement with WeWork to remove or modify the non-compete obligations of most of its employment contracts that have limited workers` ability to find new jobs.

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