Employment Separation Strategies and Negotiations or an Executive Separation Agreement, Termination Agreement or Release Agreement
Experienced New York employment lawyer offering advice and representation for an executive, manager or highly-compensated professional who is terminating employment (whether termination is voluntary or involuntary) and who is considering terms such as:
- Characterization of employment termination for purposes of guaranteed bonus, guaranteed compensation, an equity award (restricted stock, restricted stock units or stock options) or hedge fund participation, to minimize forfeitures.
- Eligibility for and amount of severance pay or special separation payments.
Lump sum v. installments
Tax year of severance payments or special separation payments
Conditions for receipt of severance payments
or special separation payments
Severance repayment obligations
- Treatment of a special equity award or standard equity awards on employment termination.
- Repayment obligation on employment termination for any sign on loan, sign on bonus or special compensation.
- Payment of bonus guarantee or guaranteed compensation on employment termination.
- General release of claims on employment termination.
Present v. future
Carve-outs for:
Right to indemnity under state law or corporate by-laws
Employer violation of separation agreement
Other specific known claims or obligations.
Employer disclosures concerning employees selected for separation.
- Time period for consideration of proposed separation agreement, termination agreement or release.
- Benefits continuation provision.
- Re-hire terms.
- A noncompete agreement or any other restrictive covenants, such as a non-compete obligation, no-solicit restriction or no-hire restriction following employment termination.
- Post-separation consulting agreement.
- No disparagement clause and employment reference provision.
- Confidentiality obligation concerning business information or reasons for employment termination.
- Trailer payment or trailer payments for deals completed post-termination.
- Press release concerning employment separation.
- Dispute resolution provision.
- Other separation agreement terms.
