Employment Agreements

Sophisticated employees understand the importance of having agreements reviewed by attorneys familiar with the subject matter at hand. There are many aspects of employment agreements that are unique -- not generally found in other contracts, such as general commercial agreements. Employment agreements used in the financial services industry have special features, and knowledge of the industry is helpful to negotiating and revising such agreements in way that protects an employee’s interest to the maximum extent possible.

Offer Letters and Severance Agreements

Employees need to protect their futures. Many issues require additional legal expense and time years later because they were not properly addressed at the time an employee signs an offer letter or contract. We are available to review and negotiate an offer letter or employment agreement to ensure that is in our client’s best interests with an eye towards what types of provisions are common in the market. The individual should see the terms promised to him set forth in the offer letter or contract, so that he or she is paid agreed-upon compensation and benefits. These agreements can include guarantees for employees changing jobs and retention agreements for current employees.

The end of a job brings uncertainty. A well-negotiated severance agreement can bring a departing employee the maximum in short- and long-term financial security. Proper review of a severance agreement includes consideration of issues and provisions concerning non-monetary aspects as well, including non-disparagement, confidentiality, employee’s personal property, company property, relocation or return from an assignment abroad, tax issues, arbitration and dispute resolution provisions, release terms, indemnity, and more.

Non-Compete, Non-Solicitation, and Confidentiality Provisions

Employees are often called upon to sign provisions that interfere with their ability to earn a livelihood. Some of these provisions are within what can be expected under the law and in the current environment, but others unfairly restrict the ability of an employee to earn a living in a future job or prospective position. We assist clients who are current, former or prospective employees in reviewing these types of provisions, making sure that they are as fair as possible to the employee.

Retention agreements, equity, restricted stock, option, deferred compensation, and other incentive compensation agreements and plans

Both employees who are just joining their firms and employees who have been working for their employers for years are sometimes faced with trying to understand (and consider whether to enter into) incentive compensation contracts or plans. These may take the form of a retention agreement applying to only one individual or a restricted stock plan or deferred compensation plan with thousands of participants. These agreements often contain non-competition and non-solicitation provisions, and other restrictions. It is important to understand how these agreements will bind an employee before the employee agrees to any terms. On some occasions, the terms of agreements can be negotiated or corrected, and even when the terms are not capable of being negotiated, the employee should understand the benefits and risks she or he is facing before signing any of these types of documents.

International/Multinational agreements, including expatriate agreements

Outten & Golden attorneys represent clients who face special issues relating to expatriate and other international agreements. Special concerns relating to housing allowance, schooling, tax preparation, and relocation benefits must be considered in addition to all of the issues and provisions that arise with domestic agreements. Our attorneys can provide guidance on these matters, and also assist in determining when other professionals, such as tax professionals, should be consulted in order to properly consider all issues.

Contact New York City, Stamford or Chicago employment attorney