Service Agreements: Reviews & Negotiations
We are frequently instructed by clients before they join a new employer to review draft contracts and take a ‘red flag’ or ‘comprehensive’ review of the terms and conditions, highlighting recommended amendments to ensure that our client receives what they are expecting to receive, and is otherwise protected under the terms of the contract.
For Senior Executives this frequently includes reviews or proposals in relation to:
- Sign on bonuses, golden parachutes and clawback provisions.
- Contractual reporting lines.
- Commission arrangements including deductible costs from team/individual bonus pool.
- Stock options, RSUs, LTIPs, carried interest benefits etc.
- PHI and life insurance terms and conditions;
- Post termination restrictive covenants.
- Notice periods.
- Bonuses and pro rata payments dependent upon reasons for termination.
- Contractual coaching and D&O insurance.
- Side letter indemnities for regulated duties.
We will front the negotiations with our clients with the prospective employer in relation to any proposed amendments if so required.
We are also regularly engaged to advise our Senior Executives on any post termination restrictions in their service agreements with their former employer and the enforceability and strategy for negotiation in relation to such restrictions.
