The vast majority of executives and upper-level managers and officials have employment agreements with their employers. Or, those agreements can be with other interested parties, such as private equity groups that carry a vested interest in the employer’s business.
These agreements typically have consequences for the manner in which the executive separates from the employer. If the executive is terminated “for cause”, he or she will typically obtain little to no post-termination compensation or benefits. Alternatively, if the executive is terminated “not for cause”, he or she may be in a position to obtain a severance, acceleration of equity-vesting (or continued equity-vesting on a set schedule), and perhaps leniency with restrictive covenants such as promises not to compete or solicit.
Whether an executive is terminated “for cause” or “not for cause” can be a fact-sensitive and hotly contested issue. Dan has recovered millions of dollars for executives and other high-level employees faced with this very issue and other, related employment-agreement conflicts.
Please complete the intake form for a consultation regarding your employment agreement and related rights: