Jump to Navigation

Employment Contracts and Severance Agreements

Whether the goal is to negotiate the terms of an employment contract or resolve the terms of a departure from an employer, the Firm works closely with our clients to ensure that their short-term and long-term goals are achieved.

Employment Contracts

Although most executives go into an employment relationship expecting a long and mutually beneficial association with the business they are joining, the rights and obligations of the executive upon a termination or departure should always be negotiated prior to the commencement of employment and embodied in a written employment agreement.

We have extensive experience advising and representing executive, professional and financial sector clients in the negotiation and enforcement of employment contracts. Some of the major issues that should be addressed in such agreements include:

  • Salary, bonus and other cash compensation.

  • The terms of stock options, restricted stock and other equity and phantom-equity awards, including the vesting of such awards.

  • The circumstances in which the employer may terminate the executive's employment "for cause" or the executive may leave for "Good Reason."

  • The circumstances giving rise to severance payments and benefits and the terms of such packages.

  • The scope and duration of any non-compete, non-solicitation, garden leave or other restrictive covenants which may restrict the ability of the executive to join a competitor or otherwise solicit clients or employees following termination of employment.

Severance Negotiations and Litigation

We also have extensive experience in advising and representing executives, professionals and other employees in negotiating severance agreements, as well as in litigation and arbitrations resulting from employment terminations and other departures from employers.