Hiersche, Hayward, Drakeley & Urbach, P.C.
Dallas-Ft. Worth, Texas
Hiersche Hayward’s Executive Employment Group utilizes a diverse, multi-disciplinary team of lawyers with expertise in employment law, corporate and securities law, tax law, employee benefits law and labor law. Effective coordination of these areas of expertise allows the firm to provide comprehensive and efficient representation to both executives and employers with regard to executive and management level employment agreements and related compensation arrangements.
Employment Agreements
Whether representing the executive or the employer, we consider all issues related to employment agreements, attempting to look at both at the “big picture” and the intricate details. The issues we often deal with and negotiate include:
- Calculation of base compensation and bonus arrangements
- Circumstances of termination (with or without cause)
- Compensation due upon termination—severance and benefits
- Restrictive covenants applicable to executive after termination, e.g., non-competition, non- solicitation and anti-employee raiding
- Confidentiality covenants applicable to executives
- Covenants related to the protection of intellectual property, e.g., work-for-hire agreements
- Tax issues related to employment agreement, including new Internal Revenue Code Section 409A (restrictions on deferred compensation) and Internal Revenue Code Section 280G (parachute tax).
Equity Compensation
Many executives receive an opportunity to participate in the equity ownership of their employers, through stock options, straight purchases of equity or stock appreciation rights. The enactment of new Internal Revenue Code Section 409A places new restrictions on stock option and stock appreciation right plans and both the executive and the employer must now consider these new restrictions when designing any plan. We can counsel the executive in negotiating equity compensation or assist the employer in designing, preparing and implementing equity compensation plans.
Deferred Compensation Plans
We have experience representing executives or employers with regard to deferred compensation plans. As with equity compensation, the enactment of Internal Revenue Code Section 409A places new restrictions on these plans and must be considered in the design process. We can counsel the executive in negotiating deferred compensation or assist the employer in designing, preparing and implementing deferred compensation plans.
Termination of Employment
A well-drafted employment agreement can settle many issues when the employment arrangement terminates, but issues often arise in any event, particularly when the executive is terminated “for cause,” or when the executive is in a protected class due to age, gender or ethnic group. We provide counsel and advice prior to a termination, often determining strategy in positioning the termination. We have negotiated numerous release and separation agreements between the executive and the employer, but if the issues related to the termination cannot be settled, we are equipped to represent either side in court, in arbitration (if agreed to) or before the Equal Employment Opportunity Commission (if a claim is filed with that agency).
Other Services
We also provide tax and estate planning, family law and other related personal legal services to executives. These services are often integral to the employment arrangement and equity compensation provided to the executive.
More Information
Contact an attorney today in our Executive Employment Group to learn more about how we can resolve your employment issues.
For more information see the article on Executive Employment Issues or our employment law newsletter.
Hiersche, Hayward, Drakeley & Urbach, P.C.
15303 Dallas Parkway • Suite 700 • Addison, TX 75001
Phone: (972) 701-7000 • Fax: (972) 701-8765
The law firm of Hiersche, Hayward, Drakeley & Urbach, P.C., in Addison, Texas, represents clients throughout the Dallas-Ft. Worth Metroplex, including Plano, Frisco, Allen, Fort Worth, McKinney, Denton, Carrollton, Richardson, Farmers Branch, Collin County, Tarrant County, Denton County, and Dallas County.