subject: Executive Employment Agreements [print this page] A skilled Detroit employment lawyer represents individuals, typically executives and professionals, in negotiating and enforcing employment agreements. These agreements typically define the parties' obligations and rights. Important terms such as the duration of employment, compensation (including salary, benefits, bonus, deferred compensation, and equity interests), job responsibilities and duties, basis for termination, change of control events, severance and post-employment restrictions (such as a non-compete agreement) are often addressed in these agreements.
Given the presumption in Michigan and many other jurisdictions of at-will employment, these agreements often provide important protections and clarification to both employees and employers.
If you are in need of a Detroit employment law firm look for one that works carefully with clients to strategize and determine the best method for approaching negotiation. Sometimes direct attorney involvement may not be warranted. In these instances, find a firm that offers positive and proactive behind-the-scenes advice and coaching.
Severance Packages
An employment lawyer will draft and negotiate severance packages on behalf of employers. They also articulate the basis for and achieve enhanced packages on behalf of employees. They analyze the agreement with a keen eye toward issues such as timing of payments, payment of unpaid leave time, medical benefits, retirement bridges, stock option vesting, post-employment restrictions (non-compete, non-solicitation, confidentiality, non-disparagement), amongst other terms.
Compensation and Benefits
The employment law firm represents employees and employers in a myriad of issues pertaining to employee compensation and benefits. Employers must adhere to state and federal wage and hour laws concerning overtime (for example, the Fair Labor Standards Act), minimum wage, equal pay, and employment of minors. Depending upon the employer's workforce and the jurisdiction in which it operates, an employer may have to provide notice to employees of reductions in force or provide certain payments at the time of notification of termination. Employees may also have rights concerning the continuation of medical coverage (COBRA) and with respect to vested retirement benefits under the Employee Retirement and Income Security Act (ERISA). Many employees are also entitled to unemployment compensation or coverage under employer-provided disability and life insurance policies. A law firm is well-versed in these matters and is able to provide analysis and guidance.
