PERKS AND PARACHUTES: Negotiating Your Executive Employment Contract by John Tarrant

PERKS AND PARACHUTES: Negotiating Your Executive Employment Contract

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Even now, it's only the top-level manager who's likely to get an employment contract--though aspirants may get some vicarious pleasure from this loose discussion of what to ask for, and how (with numerous, often lengthy contract examples). Centers of attention are negotiation of bonuses, non-compete clauses (a prohibition on leaving to work for a competitor), and definable termination-of-employment clauses. (Just what is ""just cause"" for firing?) There's some good advice on how to feel out your employer's priorities in a contract--length of service, salary, bonus, fringes, responsibilities?--and use them to bargain for what you deem important. Other useful tips: how to raise the subject of a contract: why an employer shouldn't object; possible pitfalls re termination, demotion, so-called ""golden handcuffs"" (various forms of deferred payment). And details on the growing variety of stock and stock option plans may be enlightening to anyone who has never before been eligible for such perks. Without the pizazz of the title, and without as much on Golden Parachutes per se (severance pay, in case of a takeover) as you might expect--but not a bad overview for those in a position to ask for a contract, now or prospectively.

Pub Date: March 1st, 1985
Publisher: Linden/Simon & Schuster