What compensation and benefits components are typically included in an executive employment agreement?

Minneapolis labor and employment law attorney, Dan Kelly, discusses how executives might have access to stock option bonuses or other forms of compensation besides salary.

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Transcript:

Well, first of all, if an executive is moving from some other location, there might be a relocation package.  And then it’s very frequent that an executive would have some kind of deferred compensation plan in an executive agreement.  Often times, there is a severance agreement that would kick in if the employee, the executive is terminated before the term of the contract or without cause of in the event of a change of control.  So for instance, if you have a CEO of a company that CEO would probably want to have a provision to ensure that if her company gets purchased and she’s no longer going to have her job that she’s protected in that change of control.  Those are some of the common elements.