Retention, Severance & Waivers – Read Your Documents Carefully

If your employer presents you with a retention agreement and it contains waivers of claims, consider the following: ● Your employer is presenting you with the contract because you have something they want. This typically gives you leverage to negotiate the contract and obtain more favorable terms than what is being offered. An experienced attorney […]

Retention Agreements v. Severance Agreements

The use of retention agreements is becoming more popular with employers during periods of insecurity, including mergers and acquisitions. The primary point of retention agreements is the employer pays for the employee to stay. In other words, the employee agrees to remain as an employee for an agreed upon period and, in return, the employer […]

Damages Recoverable in a Breach of Contract Lawsuit

When you enter a contract with another party, the signed document sets forth the obligations of each party and provides protections if one of the parties breaches the agreement. The breach of the contract can cause considerable problems for the other party, so the law provides that certain damages or losses can be recovered by […]

What is Breach of Fiduciary Duty?

If your company uses external resources to provide advice and assist in growing your business, these sources are often called “fiduciaries” and they have an obligation to the company to act in its best interests. Your company is called the “beneficiary,” and it is entrusting its well-being to the fiduciary. Common examples of fiduciaries that […]

What Damages Can I Recover in a Business Lawsuit?

One of the most common types of business lawsuits is for a breach of contract. The breaching party typically is liable to the other party for damages incurred as a result of the breach. The damages the non-breaching party is entitled to depends on the type of breach and the terms of the agreement between […]

What to do if You are Offered a Retention Bonus – Part 2

This blog is a continuation of our prior blog post titled “What to do if You are Offered a Retention Bonus – Part 1.” Below are a few more items to consider when you are presented with a Retention Agreement by your employer: ● It is common for a Retention Agreement to provide that the […]

What to do if you are offered a Retention Bonus – Part 1

The primary reason employers offer retention bonuses is to ensure key employees will remain with the company after a merger, to protect relationships with important clients during the transition, or to continue to gain from your unique knowledge or skill. In other words, you are deemed to be valuable to the continued success of the […]

Retention Agreement Provisions that Favor the Employer

Retention agreements have several provisions that favor the employee (see our previous blog titled Retention Agreement Provisions that Favor the Employee), but this type of contract is typically drafted by the employer for the employer’s benefit. Thus, if you are a key employee considering signing a retention agreement, it is critical for you to have […]

Retention Agreement Provisions that Favor the Employee

If you are working for a company that is merging with or acquiring another company, it can mean that your future is unclear. If you are a key employee of your company, you may be asked to sign a retention agreement as a condition of your continued employment with the newly formed company. Whether you […]

Severance Pay: Single Trigger vs. Double Triggers for Entitlement

Retention agreements are typically used by employers during times of uncertainty. The company may be pursuing a new strategic direction, it is being acquired by another entity, or any other activity that could make key employees think about seeking employment elsewhere. In order to ensure success and stability, the company is willing to offer additional […]