Guide to improving your Senior Employment Contracts
The more senior the employee you are hiring or promoting, the larger the potential risk posed to your business. Here are some drafting tips:-
- for non-director level senior staff add express contractual obligations to match duties owed by statutory directors e.g. an obligation to report their wrongdoing.
- state that a Companies House directorship must be accepted if offered, and that such appointment will not be resigned unless so requested by the company.
- include a power of attorney enabling you to remove a Companies House directorship without consent if necessary.
- protect your business contacts by requiring the deletion of such connections from the employee’s business-related social media accounts upon termination and before any employment status profile update is made.
- include restrictions to apply during the employment (to mirror what you should have in your post-termination restrictions) e.g. not to approach clients with a view to poaching them and not to set up a competing business.
If you need help with drafting or reviewing your senior employment contracts please contact David Greenhalgh on 020 3603 2177.
Common Questions Answered
Why do I need a lawyer to review my settlement agreement?
UK law requires independent legal advice to be taken before a settlement agreement can become legally binding. Without it, the agreement is unenforceable. An experienced employment lawyer will ensure you understand every clause and that your interests are fully protected.
How much does it cost to get a settlement agreement reviewed?
Your employer will usually pay for you to get independent legal advice on the terms and effect of your agreement. This is standard practice and is typically written into the agreement itself as a contribution towards your legal costs.
Can my settlement agreement be improved?
Often, yes. David regularly negotiates for increases in value, better exit terms and stronger protections for his settlement agreement clients. Even where an employer presents a figure as “final”, there is frequently room to negotiate.
How long does the process take?
With David, many clients get to sign-off in a matter of days if all they need is advice and sign-off. On urgent agreements David provides a same-day service, so a tight deadline is never a barrier to getting the right advice.
