Any managerial level job applicant in Michigan or nationally who is handed a contract that is flatly exemplary in every aspect likely flashes on the same thought.
That is this: I will happily work for this employer forever.
Such an outcome is of course optimal. Candidly, though, it is also illusory: Employers don’t simply open the company vault for a prospective employee without first girding up for some protracted negotiations.
That’s just the way it is in the business world, even for would-be company additions who are highly pursued. If you are such a person and want to ensure that your offered contract is as good as it can be, you’ll have to ready yourself for some give and take.
We reference that reality on our website at the long-established legal offices of Sterling Employment Law in Bloomfield Hills. We stress therein that an upper-tier employee’s contract presented in the first instance will likely be less than sufficiently protective. That is, you will need “to maximize your leverage before agreeing to the deal.”
Indeed, there is a lot to closely scrutinize in a comprehensive employment contract. Relevant subject matter commonly includes these matters at a minimum:
- Compensation from all sources
- Ancillary company benefits
- Stock options
- Severance pay
- Duty expectations
- Restrictions relevant to future jobs/employers
- Company change-in-control
This point emerges as eminently clear regarding any employment contract: Its optimal wording and protections throughout can be best ensured only via skillful pre-execution negotiations.
A proven employment law legal team can help to promote that outcome.