The Tennessee Titans will turn to Mason Rudolph as their starter at quarterback for a second consecutive week, despite a three-interception performance in a loss Sunday to the Indianapolis Colts. Titans head coach Brian Callahan announced the decision Tuesday after calling his starting quarterback situation a week-to-week proposition moving forward for his 3-12 team. Rudolph, who was inserted as starter Sunday in place of a struggling Will Levis, was 23-of-34 passing for 252 yards and two touchdowns, but the turnovers proved costly in a 38-30 loss at Indianapolis. Rudolph, who made three starts for an injured Levis earlier this season, has completed 63.8 percent of his passes this season in 188 attempts for 1,267 yards, eight TDs and eight interceptions. Callahan yanked Levis in the third quarter of a 37-27 loss to the visiting Cincinnati Bengals in Week 15. Levis threw for just 89 yards and three interceptions, including a pick returned for a touchdown. He also lost a fumble. Rudolph came on to complete 21 of 26 passes for 209 yards and two touchdowns -- one on the final play of the game -- and an interception. Levis has thrown for 1,916 yards with 12 TDs and 12 INTs this season. He is 5-15 as a starter in his first two seasons in the NFL after he was a second-round draft pick in 2023 out of Kentucky. --Field Level Media
FORT LAUDERDALE, Fla. (AP) — A boat explosion at a South Florida marina has left one person dead and five others injured, officials said. The explosion occurred Monday night at the Lauderdale Marina, Fort Lauderdale Fire Rescue said in a social media post. Rescue workers transported five people to local hospitals, three with traumatic injuries, officials said. A sixth person was found dead in the water several hours later by the Broward Sheriff's Office. Fire rescue officials said they didn't immediately know what caused the explosion.
Are you a founder or an entrepreneur facing the challenges of retaining key talent and ensuring long-term commitment in your company? A vesting schedule offers a practical solution. Let's say you and a friend start a startup and decide that ownership will only accrue as the business grows. However, if either of you leaves early, you will forfeit some shares to ensure fairness and commitment. This situation represents a vesting schedule. Vesting schedules guarantee the gradual acquisition of ownership based on continuous contributions or time and safeguard the company in the event of an early departure by reclaiming shares. Simply put, a vesting schedule rewards employees who remain w while reducing benefits for those who leave early. Key Takeaways What is a vesting schedule? An employer establishes a vesting schedule, which allows employees to gradually earn rights to specific benefits or assets. It allocates incentives, options, to reward loyal employees who remain with the company for long. Employees who leave before the vesting period may forfeit their full ownership rights to employer-provided assets. Exclusive ownership rights accrue depending on the length of an employee’s contract. Vesting agreements also govern a company's acquisition and outline the treatment of equity. These agreements include provisions for "acceleration," which triggers the partial or complete vesting of shares upon specific events like a merger or acquisition. This ensures that employees or stakeholders can benefit from their equity more rapidly under defined circumstances. Why Cofounders need a vesting schedule Cofounders require vesting schedules to safeguard the startup's equity structure, foster long-term dedication, and guarantee the acquisition of shares through significant contributions. Without a vesting schedule, a founder who leaves early could retain a large portion of equity, regardless of their contribution, which may lead to imbalance and investor concerns arising from early departures. Importance of vesting schedule Below are some of the benefits of the vesting schedule: Give it a try, you can unsubscribe anytime. Written by seasoned experts, who have over 16 years of experience in Free Zones development. . Give it a try, you can unsubscribe anytime. Vesting schedules . Employees must remain with the company for a certain period to fully realize the value of their stock options or equity grants. It also ensures that founders earn their equity stake over time through continued contributions. The incentive motivates founders to work hard to build the company. Vesting aligns incentives by tying the founders' share of rewards to their ongoing participation. Vesting protects the companies if a founder becomes uncooperative or negligent. Buying back unvested shares reduces the potential impact of disengaged founders who stop adding value, instead of keeping them with a large share. Additionally, it safeguards the company and other shareholders from the influence of inactive founders. Vesting manages risk for employees as their equity, or options, grows in value over time. It gives an incentive to work hard for the company's growth and protect their investment. Vesting despite minimal contributions. With a vesting schedule, they only get a part of the shares tied to their time served. How vesting schedules work for founders : This is the starting point for the vesting schedule. The individual begins to accumulate ownership rights over time. : The vesting period is the duration over which the individual earns ownership. People often express it in terms of years, and a common structure involves a vesting period of four years. : This is . Some vesting schedules include a “cliff” period at the beginning, during which no ownership is granted. At the end of the cliff period, a significant portion or all of the benefits may vest at once. : Ownership usually vests gradually over time after the cliff period (if applicable). A common schedule involves vesting 25% after the first year, followed by an additional 6.25% each quarter until the fourth year, marking the achievement of 100% ownership. : If the individual leaves the company or fails to meet certain conditions before the vesting is complete, they may forfeit all or part of the unvested benefits. Types of vesting schedules Milestone-based vesting is a type of vesting in which employees receive stock options and benefits upon reaching specific company performance milestones. For instance, if you are an employee in a company's sales and marketing unit, you may receive stock options after attaining a specific objective. This type of vesting allows employees to earn their stock options over time, following a cliff or a set schedule. A cliff occurs when the vesting schedule grants the employee's first option, followed by quarterly or monthly grants of the remaining options. This is . It requires employees to remain with the company for a certain period and achieve a specific goal before they can exercise their stock options. Which contracts typically contain a vesting schedule? The following types of contracts typically contain vesting schedules: Vesting schedule clauses to consider These clauses ensure companies retain control over unvested assets and protect themselves from granting benefits prematurely. The management of a founder's equity at a departing company is contingent upon their reason for leaving and the terms of the vesting agreement. For a "for cause" termination (e.g., misconduct or breach of contract), they usually forfeit any unvested equity, and the company may have the right to repurchase some or all vested shares at a predetermined price. If, on the other hand, the founder is fired "without cause" (for example, by mutual agreement or restructuring), they keep the vested equity but lose the unvested shares, unless the agreement has special rules like accelerated vesting under certain conditions, like a change in company control or performance milestones. Standard vesting schedules in startups Typical vesting schedule for Cofounders According to experts, the . Under this arrangement, founders stay with the company for at least one year before earning any shares. After the first year, they vest 25% of their shares, with the remaining 75% vesting gradually over the next three years, either monthly or quarterly. This schedule ensures founders are committed to the company's long-term success and motivated to grow the business, creating value for investors. investor, suggests that since some founders contribute more at the early stages, while others might have a more significant role in the later stages, a customized vesting schedule that reflects these differences is important This approach can help ensure that each founder’s equity stake accurately reflects their contribution to the company. Alternatives to the standard schedule Below are some alternative vesting options that fit specific startup needs: : This vesting period is over an extended interval, often between 4 to 10 years or more. Matthew Pauley, a Senior Lecturer of Entrepreneurship and Sustainability at Middlesex University, . Below are some of his mentions. Advantages Disadvantages This is a vesting period within a brief duration, usually 1 to 3 years. Advantages Disadvantages Best practices for setting up a Cofounders vesting schedule The best practices for setting up a Cofounders' vesting schedule differ from those for employees because Cofounders already own shares, while employees can buy them at a set price. Since cofounders take on the most risk regarding money and time, they often benefit more from special terms and conditions that may apply to their vesting agreements. If a co-founder leaves a startup before their shares fully vest, the company backs their unvested shares, often at or below fair market value. Additionally, the company often applies the right of first refusal to co-founders' shares. This enables the other founders or investors to prevent a cofounder from selling their shares to a third party, thereby limiting the exit option to selling the shares back to the company or its founders. Establishing fair and balanced Terms Establishing fairness in equity distribution involves transparent discussions, clear expectations, and often legal agreements to prevent disputes. Ensuring trust, motivation, and long-term collaboration among cofounders is essential. An equity distribution guarantees the recognition and value of all founders' contributions, skills, and sacrifices, thereby directly boosting their morale and commitment to the startup's success. Factors that enable fair equity distribution include contributions, risk tolerance, and future potential. Customizing the Vesting Schedule Based on Roles To ensure fairness, align incentives, and foster long-term commitment and collaboration, a founding team may adjust the schedule for different roles to reflect the varying levels of involvement, contributions, and risk taken by each co-founder.n. Below are some instances that mandate customizing vesting schedules: These aim to ensure fairness, encourage accountability, support startup goals, and reflect risk and sacrifice. Getting legal advice Consulting legal experts when drafting vesting agreements is important to ensure fairness, legal compliance, and the protection of all parties' interests. Well-crafted agreements prevent misunderstandings and lay a solid foundation for the startup's growth. A legal expert can help you customize the vesting schedules, set the cliff periods and forfeiture clauses, outline tax implications, and properly exit scenarios. Involving legal experts early helps you concentrate on building your startup with confidence that equity agreements are fair. Pros and Cons of Cofounders Vesting Schedules Advantages of Vesting Schedules Potential Drawbacks and Pitfalls to Avoid FAQs About Cofounders Vesting Schedules How does a vesting schedule work for cofounders? The vesting schedule gradually distributes co-founder equity over time, ensuring they earn ownership by remaining involved with the company. Typically, the company releases equity in increments, such as monthly or annually, following an initial "cliff" period where no equity vests. If a cofounder leaves early, they forfeit unvested shares. What is the standard vesting schedule for startups? The most common vesting schedule for startups is a four-year plan with a one-year cliff. Founders must stay with the company for at least one year to earn any shares, at which point 25% of their equity vests. Over the next three years, the remaining 75% vests gradually, typically monthly or quarterly. Can we modify vesting schedules? Yes, the vesting schedule can be modified under specific circumstances, including the need to adhere to legal regulations, a significant change in the company's direction, a change in a role or responsibilities, or in case of a merger or acquisition. Amid this, its important to legally document any changes to maintain transparency. I suggest a written agreement that details the modifications, including the reasons for the changes and any impact on the original vesting schedule. What is a Cliff Period in a Vesting Schedule? A cliff period is a specific period that must elapse before an employee's benefits become vested. The clause ensures that team members stay with a startup for a set initial period (typically one year) before earning any equity. It protects the startup from prematurely granting shares to individuals who leave early, ensuring commitment and reducing risk for cofounders and investors. How Does Accelerated Vesting Work? Accelerated vesting enables employees to access unvested stock options before their standard vesting schedule. It usually happens upon specific events, such as employment termination, acquisition, merger, or initial public offering (IPO). Conclusion Summary of Key Points In summary, an employer establishes a vesting schedule as a timeline that enables employees to gradually acquire rights to specific benefits or assets. It guarantees the gradual acquisition of ownership through contributions or time, and safeguards the company in the event of an early departure by reclaiming shares. The vesting schedule's importance includes talent retention, company protection, and risk management. Common clauses include accelerated vesting, vesting frequency, and termination clauses. If a cofounder leaves your startup before their shares fully vest, your startup can buy back unvested shares, often at or below fair market value. Furthermore, vesting agreement terms and conditions may benefit cofounders more because they take on the most financial and time risk. In the meantime, co-founders' shares frequently have the right of first refusal, which enables other founders or investors to prevent a co-founder from selling their shares to a third party, leaving only the option to sell the shares back to the company or its founders. Before you opt for a vesting schedule, understand that it can be long-term or short-term, depending on your startup’s vision and what is fair. Final Thoughts on Choosing a Vesting Schedule While vesting schedules are essential, it is crucial to weigh the pros and cons of different vesting schedules and seek professional advice to implement a fair, legally sound schedule that aligns with your startup’s goals. Ensure fairness, legal compliance, and the protection of all parties' interests by consulting legal experts when drafting vesting agreements. A legal expert can help you customize a fair vesting schedule, considering tax implications and exit scenarios. This allows you to concentrate on building your startup.Injured cornerback Riley Moss could return to Denver’s lineup at CincinnatiUS homelessness up 18% as affordable housing remains out of reach for many people
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NEW YORK (AP) — Stocks fell in morning trading Friday as Wall Street closes out a holiday-shortened week. The S&P 500 fell 1.4%, with more than 80% of stocks in the benchmark index losing ground. Still, the index is managing to hold onto a modest gain for the week. The Dow Jones Industrial Average fell 402 points, or 0.9%, to 42,945 as of 10:41 a.m. Eastern time. The Nasdaq composite fell 2%. Both the Dow and the Nasdaq are also holding on to weekly gains. Technology stocks were the biggest drag on the market Friday. Semiconductor giant Nvidia slumped 3.2%. Its enormous valuation gives it an outsize influence on indexes. Other Big Tech stocks losing ground included Microsoft, with a 2.2% decline. A wide range of retailers also fell. Amazon fell 2.2% and Best Buy slipped 1.9%. The sector is being closely watched for clues on how it performed during the holiday shopping season. Energy was the only sector within the S&P 500 rising. It gained 0.5% as crude oil prices rose 0.8%. Investors don't have much in the way of corporate or economic updates to review as the market moves closer to another standout annual finish. The S&P 500 is on track for a gain of around 25% in 2024. That would mark a second consecutive yearly gain of more than 20%, the first time that has happened since 1997-1998. The gains have been driven partly by upbeat economic data showing that consumers continued spending and the labor market remained strong. Inflation, while still high, has also been steadily easing. A report on Friday showed that sales and inventory estimates for the wholesales trade industry fell 0.2% in November, following a slight gain in October. That weaker-than-expected report follows an update on the labor market Thursday that showed unemployment benefits held steady last week. In Asia, Japan’s benchmark index surged as the yen remained weak against the dollar. Stocks in South Korea fell after the main opposition party voted to impeach the country’s acting leader. Markets in Europe gained ground. Bond yields held relatively steady. The yield on the 10-year Treasury remained at 4.59% from late Thursday. The yield on the two-year Treasury slipped to 4.32% from 4.33% late Thursday. Wall Street will have more economic updates to look forward to next week, including reports on pending home sales and home prices. There will also be reports on U.S. construction spending and snapshots of manufacturing activity.Dreame Gleam Hair Dryer review
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