Barrett & Farahany’s executive compensation lawyers in Atlanta understand the importance of protecting your career interests while helping you maintain your business relationships in the process. Our law firm can help you successfully maneuver through the complexities involved in executive compensation planning and negotiating.
If you are an executive tracking your success through your career, you should notice how you’re building a wealth of marketable knowledge and experience. This becomes a selling point for new and better ventures. In turn, it also becomes vital to have knowledgeable and experienced legal representation to protect your interests as you enter different phases of employment. Career changes such as promotions, relocations, reassignments, and transfers involve many considerations. These considerations must be carefully navigated to make sure your executive compensation matches your knowledge and experience.
Executive compensation includes all of the financial and non-financial benefits your employer/business affords you as upper-level management. These benefits include:
Access to company transportation
(such as a gym or lounge)
The right to make executive decisions for the company
Being an executive often extends beyond the parameters of your employment, so the benefits you receive should extend beyond financial payments as well.
If you’re being offered a new position, whether by joining a new company or promotion, you should consider whether or not you can ask for more. Our skilled executive compensation attorneys can work with you to see if you can and should pursue more.
The specific examples we listed can be broken down into types of executive compensation. Depending on your employer, it may be more tactful and reasonable to break down your compensation by type rather than specific requests. This makes your requests easier to understand and track. These types include:
This includes all the pure monetary compensation you will receive in a year, from your base salary to your signing bonuses and holiday bonuses. Contracts should stipulate whether it is possible for you to earn bonuses beyond your typical compensation.
Many businesses will offer stock options, as these will get you invested in the business’s success and allow you to gain extra profit from its success.
Often, for tax purposes, certain modes of compensation, such as bonuses, can be deferred until later dates. It’s important to record these so your new executive compensation isn’t incorrectly taxed.
This references all compensation tied to your performance, both as an incentive and for tax purposes, as tax laws favor pay-for-performance compensation.
You can’t work forever, so it’s important to have a plan and wealth that you can use once you retire. Employers who really want you on their team can offer you benefits such as 401ks, IRAs, and more.
As mentioned before, your access to company assets would be labeled as an executive perk. Other perks beyond what we’ve mentioned can include travel reimbursements and paid time off that may not be offered to other executives and especially not to non-executive employees.
With every new position, there is one constant: contracts. The fine print is important and guarantees whether or not you will receive the executive compensation you want. Our team will meet with you to explain your rights and guide you through your employment changes, employment contracts, or separation/severance agreements you receive. We’re also here to take the lead in direct negotiations with your current or new employer on your behalf. We’re here to ensure you get what you deserve, and nothing less.
We can help as you consider such issues as:
Ownership of Developments
What constitutes a cause of termination
Relocation, and managing the expenses involved
Planning for your Retirement
Non-competition and non-solicitation agreements
Change in Control
You have worked hard to get where you are. When you are presented with opportunities in your career, you owe it to yourself to ensure that they are truly the right decision for where you want to be. We’ll also review your contracts so you know exactly what you’re being offered and what responsibilities you’re taking on. You can trust us to have your back. Contact us today.
By submitting this form, you are agreeing to receive emails as well as text messages from Barrett & Farahany.