Signing an executive contract is an exciting career opportunity, but you should ensure the contract benefits you and not just your employer. Having provisions that address your compensation, benefits, and severance agreements can help you and your employer know what the terms of your employment will be. As an executive, you are privy to a lot of information, some of which may lead to you needing to speak against misconduct.
Before signing your contract, you should discuss its terms with a Sacramento executive employment lawyer. A diligent employment attorney at Erkel Law, P.C. can help guide you through your executive contract and answer any questions that arise during your employment.
Anyone offered a position as an executive may want a lawyer to review the contract before they sign it. A contract should outline the role and compensation package, including:
These can be complex issues to understand. Although most employers do not negotiate employment contracts, an executive’s training and experience may allow for some negotiation of the contract. A Sacramento executive employment lawyer can review a contract, answer questions, and assist in negotiating more favorable terms.
A Sacramento executive employment lawyer can assist with drafting a severance agreement. The employer and the employee create a severance package or agreement if the employment relationship ends when the parties are still on good terms. The amount and terms of the severance payment can be negotiated, including whether it will be paid in a lump sum or in installments. If installments are chosen, a detailed schedule of all payments must be included. A statement regarding accrued vacation time should be drafted so all parties know how to handle vacation time. The severance agreement should also be clear on how the payments will be taxed.
Stock options or other interest in the company should also be addressed in the severance agreement, including how the employee’s rights to their shares will be addressed when they leave and how the vested and non-vested options will be disposed. Timelines for exercising options should also be included so all parties are aware of when decisions need to be made regarding options.
Including a severance agreement in an executive’s employment contract is important, but the terms need to be specific. A Sacramento executive employer lawyer can ensure an agreement complies with all laws that protect the employee’s interests.
A whistleblower is an employee who exposes misconduct within their company or industry. An employer cannot legally retaliate against an employee who is a whistleblower. Executive employees within a company can see the inner workings of a company because of their position, including violations. If an executive believes something needs to be reported, they need to do the right thing and report the violation. When they do make a disclosure, they are protected against retaliation and wrongful termination. If disciplinary action is taken after they expose misconduct, a Sacramento executive employment lawyer can guide them on available legal action.
An offer for an executive position with a company is exciting. However, before you sign that contract, make sure your contract is beneficial to you. And after you sign your contract, if issues with your employment arise, make sure you are protected. Having a knowledgeable Sacramento executive employment lawyer work with you throughout your employment can ensure your rights are protected. In the complex world of work, having legal counsel is crucial. Erkel Law, P.C. is available to support you throughout your executive employment. Contact our office today.