Labor and Employment, Executive Compensation and Employee Benefits

Financial institutions face many of the same workplace challenges as other industries, but they do encounter some unique labor and employment circumstances.  Our 45-attorney labor and employment practice has experience working with all types of financial institutions. 

In recent decades, the workplace has become an increasing focus of government regulation and public and private litigation.  As a result, the labor and employment area has expanded from traditional fields of union organizing campaigns and collective bargaining to encompass employee benefit plans and executive compensation issues, a welter of federal and state statutes that govern various aspects of the employer-employee relationship and workplace safety issues, and a wide range of other subjects.

Vorys’ labor and employment team advises and assists clients on all kinds of labor and employment matters, keeping abreast of changes in the law and developing trends so that our clients are confident that their policies and day-to-day decisions are consistent with the law.  We help our clients create, implement and amend employee benefit plans, and we represent them when litigation addresses those plans.  We counsel our clients on compliance with equal employment opportunity (EEO) matters, wage and hour laws, the Americans with Disabilities Act (ADA), the Family and Medical Leave Act (FMLA), the Occupational Safety and Health Act (OSHA), workers’ compensation statutes, and other relevant federal and state statutes addressing workplace matters.  And we defend them when their programs and decisions are the subject of governmental inquiry or private lawsuit.  We also assist our clients in drafting employment manuals, drug and alcohol testing policies and other documents regulating the workplace, and we provide training so that our clients’ supervisors and managers act in ways that are in compliance with the law.

Employee Benefits and Executive Compensation

The attorneys in our employee benefits and executive compensation group assist our financial services clients in establishing benefit plans and maintaining these plans in compliance with all applicable rules and regulations.  Benefit programs are subject to increasingly complex legal requirements imposed by both federal and state law.  Our attorneys have broad experience with all laws affecting benefit programs, including the Employee Retirement Income Security Act of 1974 (ERISA), the Internal Revenue Code (IRC), federal and state securities laws and relevant state insurance laws.  We also represent clients before federal regulatory agencies including the IRS, the Department of Labor (DOL) and the Pension Benefit Guaranty Corporation (PBGC), and in both federal and state courts.

We often counsel our clients on all aspects of executive compensation.  We regularly advise clients on matters such as nonqualified deferred compensation plans, stock options and other equity-based compensation programs, golden parachute arrangements and employment contracts.  We assist clients with the design, drafting and administration of such arrangements.  We work closely with attorneys in other practice areas, including our securities attorneys, to assist our clients in attaining their goals and objectives in an efficient and effective manner.