Philadelphia Employment Attorneys: Executive Contracts
Executive Employment Contracts in Pennsylvania
Negotiating a comprehensive executive employment contract is vital for anyone starting a career, changing employers or accepting a new position with a current employer. Many factors are considered when deciding critical stipulations set forth in an employment contract: the job requirements of the position, the employment time period, salary and/or commission rates, etc. Employment contracts have become so complicated with so many considerations and the job market so competitive, it is imperative that your best interests are protected throughout negotiations.
Employees find themselves facing an overwhelming array of considerations during negotiations for their employment. Employment law attorneys can help an employee, whether a new recruit or a seasoned executive, sift through the complex terminology, laws, and regulations relevant to his or her employment and successfully negotiate a beneficial employment contract. More importantly, a skilled employment contract lawyer can assist an employee at odds with a powerful corporation over the terms of an existing agreement. Undoubtedly, the diligence and capabilities of an employment law attorney are most crucial when a terminated or demoted employee must fight for the enforcement of employment contract terms violated by the employer.
Sidney L. Gold and his team of Pennsylvania employment lawyers have established a reputation as a premier law firm focusing solely on employment law matters. Our New Jersey employment lawyers understand that when you are negotiating a high-value executive employment contract or engaged in an employment contract dispute with a deep-pocket employer, your adversary will be represented by a team of skilled, aggressive employment contract attorneys. With a history of successfully negotiating and litigating all types of executive employment contract matters, the team of Philadelphia-based attorneys of Sidney L. Gold and Associates will “even out the playing field” and ensure that your best interests are advanced.
Negotiating Employment Contracts with a New Jersey Employment Law Attorney
An employment contract provides a legal agreement between you and your employer defining obligations of both parties for providing, accepting and continuing employment with compensation aspects clearly identified. An employment contract can be as simple as an “Offer Letter,” after you receive and countersign it, or a multi-paged document outlining each and every detail of your proposed employment and requiring multiple witnessed signatures and approval by the Board of Directors.
Executive Employment Contract Considerations
When you are executing an employment contract, there are many factors to consider when negotiating:
- A specific job title and thorough job description are paramount in your new position.
- Outlining a detailed summary of your duties and responsibilities ensures your success in possible future disagreements.
- Base salary, sign-on bonuses, performance bonuses, and vesting terms require careful planning.
- Benefit terms, such as health, dental, disability and life insurance, as well how long and at what cost to the employee the insurance will continue after termination, need to be carefully negotiated at the beginning of employment so that the employee’s rights are easily protected and enforceable.
- Vacation, sick, and personal day compensation must be included.
- Expectations for travel and relocation must be discussed.
- Retirement savings plans, stock options and severance packages are critical considerations to negotiate as well.
- Restrictive Covenants, such as non-compete and confidentiality provisions, must be thoroughly understood and the restrictive nature of their terms must not curtail future employment opportunities.
An employee just entering the field will have the least amount of bargaining power in negotiations. As a person gains experience and expertise in a career, bargaining power increases, resulting in more positive outcomes in negotiations. However, as a person “moves up the ladder” in position and experience, executive employment contracts become more and more complex and valuable. Before signing any agreement, whether you are just starting your career or you have reached high-level executive status, an experienced NJ employment contract attorney should be consulted to ensure that the terms specified protect your rights at the commencement as well as the conclusion of their employment.
The Pennsylvania employment law attorneys of Sidney L. Gold & Associates located in Philadelphia are skilled negotiators of executive employment contracts. They expertly review the terms of new and renegotiated contracts, provide representation at the bargaining table, and provide legal counsel and representation in disputes. Serving employees throughout Pennsylvania and New Jersey, our employment attorneys specialize in all areas of executive employment contract negotiations and employment contract disputes.
Employment Contracts for “At Will” Employees
An employment contract may specify a period of time for employment or identify the employment as “at will,” meaning terminable by either party at any time for any or no reason at all, even arbitrarily. In the absence of a definite term of employment such as a term of years being agreed upon, an employee is presumed to be employed “at will.” An “at-will” employee can be terminated at any time by an employer who cites “good cause,” which falls under the broader terms of disloyalty, insubordination, or failure to perform. Because the job is offered without a specified term, any non-discriminatory cause for termination is justified. Therefore, negotiating specific details related to termination of employment are especially crucial to “at will” employees. Laying out carefully pointed stipulations for termination at the beginning of employment can avoid disputes at the conclusion of the employment.
Executive Employment Contract Disputes
Our Philadelphia executive employment contract attorneys at Sidney L. Gold & Associates understand the inexhaustible list of issues that can be addressed and terms that can be included in an executive employment contract. They are also familiar with the innumerable conflicts that can arise over the terms of an executive contract and result in bitter executive employment contract disputes. Even with careful attention to detail during contract negotiations, disagreements can still occur.
Executive contract disputes are becoming more and more commonplace as businesses and large corporations continue to merge, downsize, and consolidate. Negotiating salary, bonuses, stock options, retirement plans, benefits, licensing agreements, severance packages and confidentiality issues prior to the commencement of employment are crucial to avoiding executive employment contract disputes. Those facing termination, early retirement, or layoffs need to be sure that their contractual rights are being protected as they face an unsteady economy and saturated job market.
When executives and other professionals separate from employment, many potential contract issues arise. They become subject considerable risk to their incomes, reputations and future career options. It is essential for these employees to obtain competent assistance from experienced employment law attorneys. The Philadelphia employment attorneys at Sidney L. Gold & Associates can provide the skilled legal representation necessary to insulate executives and other terminated professionals from the harsh consequences of employment contract disputes.
Contract disputes can involve many issues relating to employment and termination of employment:
- Breach of Contract
- Confidentiality and Non-Disclosure Agreements
- Consulting Agreements
- Corporate Reconstructing
- Employee Stock Plans
- Employment Agreements and Executive Agreements
- Entertainment and Talent Agreements
- Equity Agreements
- Expatriate, Secondment, and Assignment Agreements
- Financial Services Agreements
- Non-Compete and Non-Solicit Provisions
- Offer Letters
- Partnership Agreements
- Physician Agreements
- Privacy and Technology
- Retention and Change in Control Agreements
- Scope of Employment and Job Responsibilities
- Salaries, Commissions, Bonuses
- Severance Packages
- Trade Secrets
- Work for Hire Agreements
- Business Disputes / Business Divorces
- Minority Shareholder Oppression
Sidney L. Gold & Associates: Knowledgeable and Skilled New Jersey Employment Lawyers
At the law offices of Sidney L. Gold & Associates, our knowledgeable and skilled Philadelphia employment attorneys are prepared to review your contract, offer sound advice regarding your options and identify if legal action is warranted to resolve your executive contract dispute. Conveniently located in Philadelphia, Pennsylvania, we are easily accessible to all of Southeast Pennsylvania and New Jersey, including the South Jersey communities of Cherry Hill, Haddonfield, Voorhees, Moorestown, Camden, Burlington County, Salem County and Gloucester County. Call us at 215-569-1999 to schedule an appointment with one of our qualified PA employment attorneys or contact us online.