Severance Agreements Protect Sought-After Executives
This is an article of mine published March 27, 2013, that appears at my website (www.ExecutiveEmploymentAttorney.com )along with other articles of mine at http://www.executiveemploymentattorney.com/Practice-Areas/Articles.shtml .
The article indicates how a severance agreement protects executives employed on an at-will or other basis in the event of termination without good cause, and that it is wise to provide for severance terms in an employment agreement or offer sheet at the outset of employment. However, a severance agreement can be made at any time throughout the employment of the executive.
The article further indicates how severance agreements address continuation of salary and also address other issues that might be very important to the executive including
- Continuation of health and other key benefits,
- Payment of bonus, or prorated bonus
- Vesting and other rights in stock, options or phantom stock of the company
- Protections for the executive’s reputation
Finally, the article also address items the employer may seek including non-competes, releases and waivers and negotiation strategies for executives on such items.
- Are you are an employee or executive reviewing a job offer or employment agreement with or without severance terms and need advice on terms or its enforceability?
- Have you been terminated or face termination and have similar concerns?
- Have you received a severance agreement and need advice on its terms or what to seek in negotiations?
In any of those cases, if you have questions or need assistance, please let me know.