Executive agreements are legally binding contracts between employers and their executive employees. This document not only defines the employer’s expectations regarding the executive’s role, responsibilities, and performance, it also establishes the contractual obligations for the executive and the employer regarding such issues as compensation and benefits, the length or term of employment, early termination and its consequences, post-termination restrictions, equity grants, and dispute resolution.
Because of the issues covered, executive contracts between employers and their executive employees are not only complex but may also trigger interference from employment and contract enforceability laws. As a result, it is paramount that your executive employment agreement be drafted in such a way that it addresses all issues and explores all contingencies from the outset to avoid later disputes.
At Halpern & Scrom, our attorneys excel in recognizing legal issues that may arise when negotiating with executives, including non-compete covenants, confidentiality, protection of intellectual property, stock options, golden parachutes, change in control clauses, and severance agreements. We can review and explain your current contract provisions and help you draft more effective executive agreements that are designed to offer maximum protection.