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Businesses often face the challenge of attracting and retaining star employees. It can be tempting to offer star employees ownership in the business to prevent the hardship of losing star employees after investing time, money, and resources into training and onboarding. The main drawback of offering ownership is potentially relinquishing some control in the business. Employers that want to incentivize and retain star employees without relinquishing actual equity or control of the entity should consider offering star employees “phantom units” rather than membership interests of a limited liability company or stock in the corporation. This article will provide a brief overview of how phantom units and phantom unit agreements are used, what to consider when drafting phantom unit agreements, and how to align the interests of the star employee with the company through the use of phantom unit agreements.
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Have you ever noticed the OU symbol on hundreds of food labels in your supermarket, from ketchup to pasta to bread? That means the food was produced under the rabbinic supervision of the OU, the largest profit-making supervisor of kosher foods in America. You might think that one of its kashrut inspectors would have the legal right to sue the OU for unpaid wages or overtime—but no, he wouldn’t have a prayer.
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In late 2019, the salary threshold for exempting an employee from overtime pay was lowered. In March 2024, the Department of Labor (DOL) raised the threshold, expanding the number of employees eligible for overtime pay. However, by late 2024, the salary level reverted to the previous lower levels established during the first Trump administration in 2019. This updated threshold reduces the number of employees exempt from overtime. While these wage requirements have fluctuated in recent years, one constant remains—the duties test.
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Question: We have an employee who recently passed away. He wasn’t married, didn’t have a will, and didn’t have company life insurance or death benefits. How do we handle his final paycheck? Do we continue with our regular payroll procedures, should we wait for the beneficiary for his estate to be identified, or something else?
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And so it goes: Employers come to the crossroad—designate a worker as an employee or as an independent contractor. A lot rides on the path taken. Erroneously pick contractor, and you’re on the hook for unpaid overtime, often on a class action basis. The money owed can add up—fast!
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And so it goes: Employers come to the crossroad—designate a worker as an employee or as an independent contractor. A lot rides on the path taken. Erroneously pick contractor, and you’re on the hook for unpaid overtime, often on a class action basis. The money owed can add up fast!
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Employers aren’t required to pay nonexempt employees for the time they spend commuting between their home and work to begin their workday or after ending their workday. Travel time during the workday is often compensable, however, and should be recorded and counted as hours worked for potential overtime. A home health agency recently learned this the hard way.
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