Drafting memorandum and documents, which regulate the issues of employees’ encouragement, depending on the scheme agreed upon with the client, or development of the measures required to adapt promotion and incentive schemes used by the clients (or other subdivisions of the client's group of companies) to the requirements of the Russian legislation.
The service is oriented on the companies of all sectors.
Often companies, in particular those with head offices located outside of Russia, wish to introduce in the Russian offices alternative incentive schemes for the most effective encouragement of staff to work effectively. For this purpose they usually use, inter alia, option and shareholding programs, etc. In many cases, however, such schemes are not completely consistent with the Russian legislation and, accordingly, may give rise to difficulties with their practical application in Russia given the specific features of the local legal regulation. You can minimise such risks by engagement of the prompt legal advice, which in some cases is required even for more standard incentive schemes (bonus programs). For instance, vague wording of the regulations on bonuses and the lack of internal regulatory act on the relevant issues can lead to the employer's duty to pay bonuses to the employees regardless of their performance imposed by the court.
Procedure, Fees and Deadlines
Upon review the situation and client's preferences, as well as the documents available, we will identify the integrity o the relevant incentive schemes, which is reflected in a memorandum drafted for the client. As soon as the relevant action plan has been agreed upon with the client, our experts draft internal acts and other documents required for proper development of the incentive schemes.
The term for the memorandum development starts from 4 business days.
The service fee is 2,500-3,000 US dollars net of VAT and additional costs.
The long experience in advising Russian and foreign employers operating in various regions of Russia on labour issues, as well as in legal representation on labour disputes, allows GRATA assisting the clients in the development of effective employees’ incentive schemes in order to avoid any problems or sudden conversion of the scheme and its outcome.
Some recent projects involving GRATA experts are:
- Representation of the Russian production subdivision of an international pharmaceutical company in legal proceedings on the dispute associated with the size of incentive payments;
- Legal assessment of the option incentive scheme used by the Russian subdivision of a US IT company from the perspective of practical effectiveness in terms of the Russian legal regulation;
- Development and audit of local regulations applicable in the Russian subdivision of one of the world's largest automakers on the issues related to labour and compensatory payment to employees;
- Legal support in conclusion of the staff outsourcing agreements for the Russian production subdivision of one of the world's largest automakers, including contractual arrangement of possible incentives to the outsourced staff.
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On 30 November 2017 in Bishkek GRATA International organised a practical seminar: Roadmap to Profitable Small Hydro Power Plant Development, together with international engineering firm ILF Consulting Engineers.
On 28 November 2017 in Almaty GRATA International organised a practical seminar: Roadmap to Profitable Small Hydro Power Plant Development, together with international engineering firm ILF Consulting Engineers.
On 7 December 2017, the results of the national law firms rating – ‘Право.ru-300’ were announced.
On 6 December 2017 the drinks reception was held in Astana, Kazakhstan.
On 5 December 2017 the International Conference "PPP Projects in International Context" was held in Frankfurt-on-Main, Germany.
Yerzhan spoke on key questions of PPP projects implementation in Kazakhstan, particular issues of national legislation, basis PPP models in Kazakhstan, issues relating to regulation of PPP projects and key trends of development of PPP in the near future.
On November 28th, 2017 Nurlan Kyshtobaev, partner of GRATA International Bishkek office conducted a guest lecture on “concession agreements” and “how law firms operate”. The lecture was read to the students of International Business Law department of the American University of Central Asia (AUCA) within the course “Investment Law and Sustainable Development”. Earlier this year, GRATA International in Bishkek signed a MoU with AUCA on cooperation.
4th Downstream Caspian & Central Asia conference was held in Baku, Azerbaijan on November 28.
On 22 November 2017 Dubai Chamber Annual Networking Reception took place in Azerbaijan, Baku with the aim of highlighting achievements, discussing plans, and reward most active companies.
On November 16, 2017, American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized its monthly members’ luncheon.
AmCham Legal and Compliance Working Group hosted its regular meeting on November 1, 2017.
The opening ceremony of the Baku-Tbilisi-Kars railway (BTK) was held on October 30, 2017 in Baku.
On October 31, 2017, MilliMajlis of the Republic of Azerbaijan ratified a new production sharing agreement.
Since 1991, Kazakhstan, Central Asia’s largest economy and oil producer, has had to rely on the deteriorating infrastructure it inherited from the Soviet Union. As a result, nearly every piece of public infrastructure (e.g., roads, hospitals, power plants, kindergartens, sewerages) in Kazakhstan requires a different degree of upgrading or expansion. It is expected that proper PPPs and project finance deals will finally take off in Kazakhstan in the near future, firstly because proper legislation on PPPs has been put in place in 2015 and, secondly, after decades of neglect, the government of Kazakhstan has finally not only declared, but seems to confirm its readiness to improve the investment climate and to attract private investments through PPPs (including into the housing and utilities sector) and decided to invest at least part of the wealth from commodity exports in long-postponed infrastructure projects.
Yana Dianova, Director of the Corporate and Commercial Law Department of GRATA International (Moscow office), took part in the preparation of the Doing business 2018 annual report by the World Bank on the Russian Federation.
С 10 по 16 ноября 2017 года Каспийский Университет принял юристов GRATA International в качестве лекторов по актуальным темам.
We are proud announce that GRATA International has been ranked as an Outstanding Law Firm by Asia Law Profiles 2018
On 13 November 2017, in celebration of 20 years of GRATA International in Atyrau, we organised a Doing business in Kazakhstan via a Joint Venture and Consortium seminar.
As a further step in GRATA International’s strategy designed to provide a comprehensive coverage in the Eurasian region, we are pleased to announce the expansion of our Mongolian desk into a significant presence in Ulaanbaatar. Absolute Advocates, a full-service law firm, has started operating as an associate firm of GRATA International with effect from November 10, 2017.
On 7 November 2017, a round table ‘Strategy 2025’ was held in Almaty.
On 2-3 November 2017, the XII Forum of Corporate Lawyers was held in Almaty. GRATA International took part in the Forum as speakers.
On 13 November 2017, in celebration of 20 years of GRATA International in Atyrau we are organising a DOING BUSINESS IN KAZAKHSTAN VIA JOINT VENTURE AND CONSORTIUM seminar.
And again October, and again the time of the rating IFLR1000.
In the company section of IFLR 1000 Financial & Corporate we have gone up and take a worthy place in Tier 2! Similarly, we are located in the section Project Development, which replaced Energy & Infrastructure.
Associate office of GRATA International in Samara RBL law office became a partner of the large industrial park of the Samara region
On 10 November, Bakhyt Tukulov, Partner, Director of the Litigation Practice, will speak at the Caspian University.
Preparations are being made in Belarus for the introduction of a new institute in the consulting sphere - tax advising. Edict of the President adopted on September 19 serves this purpose by approving the Regulation on the activities of tax advisers in Belarus.
On 13 October 2017, in Atyrau, at the Renaissance Hotel, GRATA International hosted a Termination of employment agreement seminar devoted to labour law regulation of the Republic of Kazakhstan.
Статья управляющего партнера Ассоциированного офиса GRATA International в Новосибирске (Россия) USCONSALT Евгении Бондаренко о проверке российского контрагента перед сделкой.
Статья управляющего партнера Ассоциированного офиса GRATA International в Новосибирске (Россия) USCONSALT Евгении Бондаренко о соблюдении ряда обязательных требований при принятии процессуального обращения арбитражным судом Российской Федерации.
GRATA International is delighted to confirm that Shaimerden Chikanayev has been endorsed as a Highly regarded lawyer for Financial & Corporate law following client and peer recommendations during IFLR1000's research process.
On 6 October 2017, the Union of German Economy in the Republic of Kazakhstan and Representative Office of the German Economy in Central Asia held the 19th Day of German Economy in Kazakhstan.
On 5 October 2017, the International Investment Forum - "Almaty Invest" - was held. The Forum platform annually incorporate about 500 high-ranking participants.
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