Each business is constantly faced with a complex web of issues related to its executives, employees and independent contractors. Most well run companies consider their employees to be their greatest assets, and sometimes their biggest problem! From developing plans to attract and retain top talent, to protecting a company’s confidential information and goodwill, to counselling on difficult employment situations and terminations, we can help. Levun, Goodman & Cohen assists its clients with the development of Employee Handbooks, Employment Contracts, Consulting Agreements, various Compensatory Plans, and Restrictive Covenant Agreements (confidentiality, non-solicitation and non-compete) for executive, employees and consultants, among many other agreements.
For companies seeking to attract and retain executives, we assist in the development and drafting of competitive compensation structures to align the executive’s compensation with attainment of individual job performance metrics and company goals. This includes detailed bonus structures, stock options plans, phantom equity plans, profit sharing plans and deferred compensation plans.
Sometimes, the best way to incentivize a key employee is to make such person an owner in the business. We regularly work with companies to find creative strategies to bring key personnel into ownership on tax-free or tax-advantaged bases, and to achieve long term company goals. Whether these are structured as “profits interests,” employee purchase plans, or equity grants, we help to develop a plan that meets your company’s individual needs and goals. Similarly, we regularly work with closely-held business owners to develop succession plans to ensure the continuation of the business, whether this involves development of leadership from within the family, the existing employee base, or externally.
From time to time, our clients find themselves in need of our assistance to enforce employment agreements and restrictive covenants against employees, to develop potential corrective measures to address employee performance issues, and to assist in termination of employees and associated severance agreements. We stand ready to assist at each stage of an executive’s or employee’s relationship with the company.