As a company director or senior executive, your terms of employment may be different to those of your junior colleagues.
Your position will often include a variety of benefits, with a large proportion of your remuneration often delivered in the form of short term and long term incentive plans (STIPs and LTIPs), which may include share options or significant cash bonuses.
You will also be subject to various provisions in your contract or service agreement that can significantly impact or restrict your activities and entitlements, should you leave the business. These may include, for instance, extensive garden leave provisions, wide-ranging post-termination restrictions, and notice provisions that seek to limit what you will be paid on termination of employment.
In addition, you will often be subject to aspects of Company law, which may require particular attention to be paid to your terms and conditions.
These special circumstances merit expert attention. Our employment lawyers are on hand to advise you whenever you need help or guidance. In particular, we add real value and protect your interests at two key times: when you join, and when you leave.
Taking up a new senior executive/director role
Taking detailed advice on your new service agreement can pay dividends. For example, we can:
- help you negotiate more beneficial terms and conditions, including highlighting any unfair or overly restrictive obligations
- review and advise on proposed bonus terms
- advise on the benefits of removing or revising unfair ‘payment in lieu of notice’ terms
- advise on the extent of any garden leave and post-termination restrictions, with a view to renegotiating where required, such as carving-out existing client relationships.
Maximising your severance package
If you are considering an exit, our expert employment lawyers can advise you and develop a strategy on how to approach the business to put you in the best position. Similarly, if you have been offered a settlement agreement, or if you have already been dismissed, our expert employment lawyers are on hand to advise on how to protect your interests and, where possible, negotiate a favourable settlement.
For instance, we can:
- advise you on your contractual entitlements such as notice pay, benefits and pension, to ensure you are not losing out
- advise you, often in conjunction with our Corporate team, on matters such as shares and share options
- negotiate often significant increases in any ex gratia payments to reflect potential claims such as unfair dismissal, whistleblowing or discrimination
- negotiate on restrictions so that you are better placed to take up new employment as soon as possible, maximising the benefit of your severance package
- negotiate internal or external announcements to protect your reputation.
Our goal matches yours.
We aim to achieve your objectives with minimum fuss, in a pragmatic and strategic way.
And when it comes to costs, we offer transparency with fees explained to you at the outset.
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