Louisville Employment Lawyers
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Legal Services Offered by Our On-Demand Louisville Employment Attorneys
Our experienced Louisville employment attorneys & lawyers can help guide you on how to proceed with various employee decisions such as reviewing employee documents such as contracts, agreements, policies, and handbooks, along with difficult decisions such as firing, lawsuits, claims, and complaints.
Although not every single employment contract will require legal assistance, many employment lawyers would recommend avoiding unilateral employment contracts that strongly benefit one side over the other. These types of employee contracts rarely hold up in court, yet having the funds needed to combat an issue in court can limit the employee’s options.
A confidentiality agreement and a non-compete agreement are common forms of employee contracts that one of our Louisville employment attorneys can help customize for your business. If your business needs to fire an employee, proper measures should be taken from a business legal standpoint to ensure proper communication and a smooth transition of dismissing that employee. In any case, we suggest you connect with our employment attorneys to discuss your options.
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Most startup companies are created by a small group of people commonly referred to as founders. These are usually the people who have the original ideas for the new business, the technical expertise to develop the new product or service and bring it to market, and the ability to contribute the capital (or find investors who will contribute capital) needed to launch the new company.
Founders often believe they don't need to worry about compensation, benefits and other employment law issues until the company starts generating revenue or profits. (They think that's when the company will finally hire its first "real" employees.) But founders should figure out their relationship with each other (and the company) at the very beginning of the venture.
The founders first need to decide how ownership of the business will be d
- 6 min read
What Is Severance Pay?
Severance pay is compensation that you receive when you are released from employment. There are many reasons a person might receive severance pay. Some common ones include:
Your job is eliminated.
You and your employer agree it's best for you to leave the company.
You almost never receive severance pay if you are fired for poor job performance. Packages are determined by your contract. Generally, you receive one to two weeks of pay for every year you were employed. Top-level employees may receive a month's pay for every year with their company.
Severance pay amounts depend o
- 5 min read
Reverse Vesting: What Is It?
Reverse vesting occurs when a company's co-founder receives their shares and ownership interest upfront. This exchange is subject to vesting similar to employee stock options. If the co-founder leaves, the company may repurchase a set amount of those shares.
What Is a Restricted Stock Purchase Agreement?
When a company wants to initiate a repurchase of the co-founder's stock, it uses a process called a restricted stock purchase agreement. It's a specific term that reflects the type of stock, a restricted class, and the type of contract.
The purchase agreement is the agreement between the co-founder and the company that the latter party can buy back the stock. The transaction isn't guaranteed. They're simply holding the right to do it if the situation arises.
The business keeps the restricte
- 5 min read
What Is Cliff Vesting?
Cliff vesting is the process where an employee gets fully vested on a given date. The employee receives his or her full benefits of the retirement plan on a specific date instead of in amounts over time. The "cliff" described is the date on which you become fully vested. A four-year vesting schedule with a one-year cliff is common.
Cliff vesting is the way that employees of a company can acquire full ownership of incentives or assets of the company's qualified retirement plan account on a specific, agreed-upon date, instead of over a longer period. This period cannot exceed six years. The "cliff" is usually one year in.
Companies put vesting schedules in place as a way to handle pension or retirement plans. There are other assets and benefits that can be specified. But they must meet t
- 14 min read
What is an Employee Handbook
An employee handbook is a collection of a company's policies and rules of conduct.
A typical employee handbook focuses on policies to follow and lists out what employees cannot do. The employee handbook helps to protect the legal rights and responsibilities of the business, the business owner, and the employee. The employee's rights are sometimes left out of the employee handbook.
An employee handbook can also be used to give a new employee a great first impression of the company. The employee handbook can communicate the company culture and positive benefits as well as policies.
The employee handbook makes sure that each employee understand the expectations of the company. This understanding allows each person to work together as a cohesive team.
The employee handbook can help prevent miscommunication with the team. Typically, a new employee is required to read the manual in the first few weeks