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Protecting Executive Compensation: Unvested Equity and the Covenant Of Good Faith and Fair Dealing
Executive compensation comes in many forms. Aside from the basics-salary, bonuses, and fringe benefits- deferred and equity compensation often constitute a considerable piece of an executive's overall compensation package. Deferred and equity compensation come in many forms (stock options, restricted shares, etc.). These equity grants typically vest over time and are tied to certain contingencies, such as remaining employed through a certain date (time-based vesting) and/or meeting certain business objectives (performance-based vesting). Read more.
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On July 27, 2017, Governor Charlie Baker signed into law an amendment to the Commonwealth's anti-discrimination statute, solidifying and expanding protections for pregnant and nursing workers. The Pregnant Workers Fairness Act (the "Act") codifies certain protections that had previously existed only in case law, strengthens and expands other pre-existing statutory protections, and clearly delineates both an employer's obligations to employees that are or recently have been pregnant, and what protections these employees are entitled to receive. The Act goes into effect on April 1, 2018. Read more.
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Advising Departing Employees on How to Keep Future Jobs
Representing an employee that is departing from a company to join an alleged competitor can be one of the most challenging, contentious and fast-moving situations employment lawyers handle. There are myriad interests and considerations to evaluate and balance. For example, one of the most common misconceptions is that, in California, employees move freely between jobs in complete disregard of the concerns that might restrict them elsewhere. However, even in California's supposedly laissez-faire employment landscape, employees who do not manage their career moves carefully can find themselves unemployed and in legal trouble. Having legal advice early in the process can make a critical difference and increase the chances of a smooth transition.
Read more.
This article originally appeared in Law360.com
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Look Before You Leap
Smart executives and professionals - especially those considering a career leap - know there is usually much more to an agreement than just compensation and benefits. Stronger competition for top-level talent is allowing in-demand professionals, executives and employees to negotiate favorable deals to join a new company, or stay with their current shop. For the unwary, however, a bad employment agreement can put the brakes on new opportunities. Read more.
This article originally appeared in the Providence Business News.
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Brian J. MacDonough appointed co-chair of Boston Bar Association Labor and Employment Section
Brian J. MacDonough, partner, has been appointed co-chair of the Boston Bar Association's Labor and Employment Section, effective September 1st. Click here to learn more about the section and view upcoming events.
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About Sherin and Lodgen LLP
Sherin and Lodgen is a mid-sized Boston law firm specializing in real estate, litigation, business law and employment. With over 40 attorneys, the firm handles complex matters, while providing responsive, senior-level attention to every matter. Known for its effective, efficient and focused representation, Sherin and Lodgen delivers sophisticated analysis and a high touch service by developing an in-depth understanding of clients' business goals, issues, concerns and emerging industry trends.
Visit our website to learn more.
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