In this episode of OK at Work, attorneys Sarah Sawyer and Russell Berger from Offit Kurman discuss the importance of clear organizational structures and effective board governance. They highlight the need for well-defined roles and responsibilities within an organization, the significance of precise legal documents, and proactive policies and procedures. By addressing these elements, organizations, whether large or small, can avoid operational chaos and make agile, confident decisions. The conversation also touches on the importance of periodically reviewing and adapting these structures as businesses evolve.

00:00 Introduction to Organizational Structure

00:13 Board Governance and Operations

01:10 Legal Documents and Clarity

01:50 Decision-Making Processes

02:41 Importance of Clear Policies

04:24 Agility in Business

04:57 Periodic Review and Adaptation

05:16 Conclusion

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Join hosts Russell Berger and Sarah Sawyer every week as they discuss current events and legal issues impacting business owners. From updates on the ever-changing employment law landscape to the risks and benefits of integrating AI into your workplace.

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In this episode of OK at Work, attorneys Sarah Sawyer and Russell Berger from Offit Kurman discuss executive level compensation and employment agreements. They explain the significance of these agreements for both executives and companies, particularly in scenarios involving business marketability, sales, and investor interactions. Key considerations include restrictive covenants, non-competes, and intellectual property protection. They also emphasize the importance of planning these agreements well in advance of major business transitions.

00:00 Introduction to Executive Compensation Agreements

00:58 Key Clauses in Executive Agreements

01:29 Importance of Term Employment

02:00 Considerations for Founders and Growing Businesses

02:45 Planning Ahead for Business Transitions

03:32 Final Thoughts