I. PURPOSES OF STOCK RESTRICTION AGREEMENTS (A/K/A BUY/SELL AGREEMENTS)
I. PURPOSES OF STOCK RESTRICTION AGREEMENTS (A/K/A BUY/SELL AGREEMENTS)
After signing a new contract with a principal, most reps will properly focus on generating sales within the newly assigned territory. Even in this era of corporations getting gobbled up or “restructured” on a regular basis, little thought is given to what happens if the principal gets bought out. Yet several important questions are usually presented.
Individuals suing companies, especially those raising personal-injury or employment claims, must recognize that their social media postings are increasingly subject to exploration in discovery. A plaintiff claiming debilitating back injuries, for example, would do well to avoid posting post-accident photos of herself on horseback.
Kurtis Jewell and more than 1,700 of his current and former co-workers at Aaron’s Inc. claim their jobs were so pressure-packed they could not take lunch breaks, in violation of the Fair Labor Standards Act, 29 U.S.C. Sections 201-219.
Ordinarily, when partnerships or employment relationships end abruptly, and a partner or employee leaves disgruntled, no weapon is more important than a well-drafted, up-to-date non-compete agreement. But consider the case of Ronnie Chalmers, father of standout Miami Heat point guard Mario Chalmers.
Cable television packages or “tiers” have long drawn the ire of sports leagues. Tiers carry specific types of programming (e.g., science fiction, business news, or out of market sports), and are available to subscribers for an additional charge over basic programming.
Independent sales rep X-Cel Sales, LLC represented A.O. Smith Corporation, the well-known water heater manufacturer, for 15 years in Arizona and Nevada. Soon after terminating X-Cel in June 2010, A.O. Smith discovered that scorned sales reps have replaced women as the subject like which hell hath no fury.
“It’s a world of laughter, a world of tears.”
Compensating plaintiffs for wrongful pain and suffering is typically the jury’s province, and a look at some recent cases vividly displays just how difficult, even gut-wrenching, these decisions can be.
“It’s a world of hope, and a world of fears.”
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