Labor Law

Structuring of labor relations in a non-credit financial institution

By 12.11.2018 No Comments

The client, who is a non-credit financial institution engaged in consumer lending, requested assistance in structuring labor relations with the new CEO and Chief Accountant.

Lawyers needed to lay out their corresponding duties in as much detail as possible, as well as to provide detailed provisions for the protection of company’s confidential information in order to minimize the risks for the employer.

Lawyers of Legal Studio prepared employment contracts, as well as developed detailed job descriptions, which described in detail the functions of the CEO and Chief Accountant, while all the personnel paperwork reflected the specifics of the company.

For the CEO, certain conditions were added separately to the employment contract, which established additional grounds for terminating the employment contract, and a reasonable procedure was provided for determining the size of the “golden parachute” that suited to the balance of interests of the parties.

The project has had a decisive role for the Client’s business due to the fact that the proper formalization of labor relations with top management has allowed business owners to retain full control over the development of the company.

In the course of the project implementation, it was possible to achieve streamlining of labor relations with top management, which allowed the company to establish effective management.