Employment Contract Negotiation & Executive Contract Disputes in Pennsylvania & New Jersey
Helping Employers Negotiate Executive Contracts to Avoid Contract Disputes
Over 12 million Americans are currently unemployed, including a large percentage of white collar, middle-class workers. The current economic state of our country has resulted in an employer’s market. Never before have so many college educated and highly skilled career minded individuals been available for hire. The over saturated job market has brought in a wave of experienced professionals willing to negotiate employment contracts that they would have once turned down. Employers have a wide field of candidates open for hire, but carefully executed executive employment contracts are more essential than ever.
The Philadelphia executive contract attorneys at Sidney L. Gold & Associates understand the importance of drawing up executive employment contracts that have clearly defined stipulations. Careful attention to contractual detail at the start of an executive’s employment is crucial to avoiding contractual disputes later. With so many seasoned professionals seeking employment, business and corporate executives are wise to enlist the aid of experienced and competent employment law attorneys that will ensure that the employers are protected against future disputes. Our team of experienced Pennsylvania employment lawyers understands the financial risks that disgruntled executives can bring through litigation. The goal of our Philadelphia labor law firm is to protect the employer’s assets by avoiding costly arbitration and litigation.
Careful Negotiations Avoid the Need for Arbitration and Litigation
There are vast arrays of considerations when negotiating an executive employment contract. The most important aspects relate to those items that significantly impact an employee’s life, at the beginning and at the end of employment. These include:
- Scope of Employment and Job Responsibilities: A specific job title, clearly defined job responsibilities and duties, as well as an outlined job description will avoid disputes centered on terminating an employee who does not fulfill the job requirements.
- Salaries, Commissions, Bonuses: It is imperative to carefully negotiate compensation responsibilities of the employer when drawing up the executive employee contract. Salary, commission, and bonuses become paramount when employment ends. An employer must protect their assets at the commencement of employment to avoid costly disputes at the end of employment.
- Benefits: Health insurance benefits have never been a more powerful bargaining tool than the present day. Rising healthcare costs are draining employees and employers alike, and careful attention to the details concerning health care coverage is essential in any contract. Not only do employers have to outline the details of coverage while the employee remains under contract, but details about continuance of coverage after employment must be carefully negotiated as well. These stipulations also apply to vacation, personal days, sick days, short and long term disability benefits, and life insurance.
- Retirement Savings, Stock Options, and Severance Packages: As the economy dictates the need for businesses and corporations to downsize and merge, retirement savings plans, stock options, and severance packages become strong bargaining tools. Not only will the executive employee want to know what will be offered in the event of a layoff or merger, the employer must also know what the employee is due if the job needs to be terminated under these circumstances. The prime time to use this bargaining tool is when the employee is being offered employment. An employer must carefully consider these options when offering an executive contract so that they do not become a liability at the separation of employment.
- Non-compete/ Non-solicitation agreements: Specific time periods and geographic areas for a non-compete and/or non-solicitation contract clause must be carefully outlined in an executive employment contract. These clauses are strictly enforced by the courts and forbid a former employee from working for or soliciting business from one of your competitors. The restrictions must be reasonable with specific details relating to time and geographic location.
- Confidentiality agreements: No employer wants to risk a former employee going to a competitor with trade secrets or product information that could result in unfair competition in the marketplace. Confidentiality stipulations must be thoroughly stated to avoid confusion or dispute.
When Defending against a Contract Dispute Is Necessary, Call an Experienced Philadelphia Employment Contract Attorney
Even with careful planning and strict attention to detail, executive employment contract disputes can occur. Seeking the assistance of an experienced and competent employment attorney is essential to a positive outcome for an employer. The Philadelphia employment attorneys at Sidney L. Gold & Associates have provided defense of employee contract disputes to many business owners and corporations and fully understand how draining litigation can be on a corporation or business.
Our team of experienced, knowledgeable Pennsylvania and New Jersey employment law attorneys is well-versed in all phases of defense of contract dispute. Our New Jersey employment attorneys work to avoid litigation by first seeking to arbitrate outside of the courtroom to avoid a lengthy and costly trial. Careful attention to detail when offering an executive contract is essential to resolving issues that arise at the termination of employment. By working with our competent and skilled attorneys when drawing up the employment contract, we are prepared to defend the stipulations and clauses in cases of dispute. In the event that arbitration fails to resolve the conflict, our team of NJ employment attorneys is prepared to represent you in court. Our goal in defending against an employment contract claim focuses on protecting your rights as an employer, as well as your company’s assets.
Philadelphia Employment Contract Attorneys at Sidney L. Gold & Associates Ensure Successful Executive Contract Dispute Defense
The Pennsylvania and New Jersey employment attorneys at Sidney L. Gold & Associates understand the time consuming and often overwhelming details that go into comprehensive executive employment contracts. Complex and often confusing terminology is difficult to interpret, but is essential in protecting your investment in your executive employees. Our New Jersey employment lawyers can work with you to establish well defined stipulations and clauses in your executive employee contracts, and protect you from future disputes brought by employees. Our NJ employment lawyers also provide experience, knowledge, and competent representation in the event of litigation.
At the Philadelphia employment law offices of Sidney L. Gold & Associates, our knowledgeable and skilled NJ employment attorneys are prepared to review your contracts, offer sound advice regarding your options at the bargaining table, and identify if legal action is warranted to resolve an executive contract dispute. Conveniently located in Philadelphia, Pennsylvania, we are easily accessible to all of Southeast Pennsylvania and New Jersey. Call us today at 215-569-1999 to speak with an experienced Philadelphia employment attorney or contact us online.