We are highly experienced at negotiating the terms of contracts of employment for senior executives, whether prior to or on commencing employment, or during employment (for example, on a promotion or change of role).
Examples of the issues in employment contracts which we advise on and which frequently benefit from negotiation with the employer are:
- The scope and definition of the role, job description and duties and the employer’s contractual flexibility to make changes to this without the employee’s consent.
- FCA-specific provisions for employees in the financial services sector.
- Initial term and notice period.
- Place of work and mobility clauses.
- Salary and benefits clauses.
- Bonus provisions.
- Outside interests and ability to undertake other work or hold other directorships.
- Garden leave provisions.
- Summary termination provisions.
- The precise drafting of any payment in lieu of notice clause (which is normally included in a senior executive contract) – this can prove to be highly significant on termination of employment and in the context of negotiating any severance package on termination.
- Change of control clauses.
- Obligations on termination and post-termination restrictive covenants.