Outten & Golden advises executives in all phases of corporate restructuring, and negotiates new employment agreements or retention agreements for entire executive teams.
Corporate restructuring is the term for reorganizing a business, generally with the purpose of increasing profitability. An example is a merger or acquisition in which two companies that are competitors or complementary merge into one structure. On a financial level this affects the debt or equity of a company; in terms of executive employment, it may result in termination or separation of the executive and/or may result in increased compensation for the executive by triggering a change in control provision in an employment agreement. If the executive is employed at will (i.e. has no employment contract), he or she may need to hire counsel to negotiate an employment agreement that will protect the executive in the new structure.