Adam Greetis Published in WorldatWork's Compensation Focus
"Benefits Issues in Terminating an Executive"

Adam Greetis' article, "Benefits Issues in Terminating an Executive," was published in the April 2010 issue of WorldatWork's Compensation Focus. Adam's article discusses the legal issues that arise when an organization terminates an executive. His article identifies a step-by-step process an organization can follow to help ensure the process goes smoothly. He also provides recommendations for properly managing and addressing these important matters, including: the collection and review of documents and determining the executive's rights. Adam recommends that an organization should review its current severance plan or severance agreements with the executive to determine the executive's present right to receive severance pay, to what extent the executive is vested in any qualified and supplemental executive retirement plan, and any nonqualified deferred compensation arrangements. Adam also suggests a final, but important step in the termination process: responding to any post-termination issues that may arise, such as, if the executive has agreed to certain restrictive covenants; the organization will want to monitor the executive's actions to ensure compliance.