Protecting Your Compensation, Reputation and Career
- Executives in a technology, biotechnology, pharmaceutical, retail or health care company in Massachusetts, are likely familiar with restructuring. You may want to know more about how to protect your compensation, reputation and career in the event of a restructuring.
- Restructuring may bring a change in personnel, reporting lines, operations, processes and organizational structure.
- If you have questions about protecting your compensation, reputation and career, contact us at 617-936-1580 or at mglgstaff@mauragreenelaw.com
Why Executives Are Vulnerable in Restructuring
- The company may retain outside consultants to make recommendations as to streamline operations and make the company more profitable.
- A new leader may bring in their trusted former colleagues, requiring changes in the reporting lines, hierarchy and org chart.
- How can executives protect themselves in the event of a demotion following a restructuring?
Well Drafted Contracts Protect Executives
- A well drafted contract can protect an executive in the event of a restructuring or change in control.
- A “good reason” clause can provide for certain compensation in the event of a change in the organization that negatively impacts the executive.
- A “good reason” clause will define when an executive may leave with severance or other compensation.
- The definition of good reason in a contract may include a change in reporting structure, a demotion, reduced compensation, or the requirement to report to another office location.
- A well-drafted executive employment agreement may also include severance, health insurance coverage, equity and other benefits.
How the Employment Attorneys at the Maura Greene Law Group Can Assist You
- We review and negotiate offers and employment contracts. It’s important to consider how the contract protects you in the event of an exit.
- We represent executives who are being asked to take a reduced role or compensation. We advise executives who are working remotely and are asked to report or relocate to a new office location.
- We help executives protect their reputations and get the compensation they deserve.
- If you have questions about protecting your compensation, reputation and career, contact us at 617-936-1580 or at mglgstaff@mauragreenelaw.com
The Not So Fine Print:
Every case has unique facts. Before you take any action, you should contact an employment lawyer and get advice on your own situation. We can’t provide legal advice here and this isn’t intended as legal advice. Keep in mind that it is best, if possible, to establish a relationship with an attorney before a workplace issue turns into a full-blown crisis.