Redundancies - Employment Solicitors | Royds Withy King

Introduction

Senior employees and directors of companies are often highly paid executives with a wide ranging package of benefits and frequently share options. They may also be subject to aspects of Company law legislation which may require particular attention to be paid to their terms and conditions. Specialist advice is sometimes required from a Company law perspective in dealing with Senior Executives/Directors.

Expert knowledge is required when undertaking aspects of corporate governance (the management of the Company) and the statutory obligations under the Companies Acts, especially when the Company involved is a PLC or AIM Company. Additionally, there are certain specific obligations binding on Directors and non-executive Directors which need to be considered when dealing with matters at board level.

A Senior Executive is often granted benefits that require specialist company/tax advice. By way of an example, bonus schemes which involve specific financial and performance targets need to be carefully drafted.

Where the Company is considering granting shares to a Senior Executive/Director, a shareholder’s agreement will be needed to regulate the rights and responsibilities of the respective parties.

Finally, share option schemes are often used as a way of motivating key employees. This may either be an individual or group scheme including EMI schemes. Specialists in our Corporate & Commercial Department can advise on and prepare these option schemes.

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