Employment

Termination agreements are contracts between employer and employee during a layoff or termination. There are several terms relating to the termination agreement, but dont be fooled or confused, they all mean the same thing. Other terminology might be severance agreement or general release. These agreements or releases are very important and should not be taken lightly. Read them completely before signing.

In some cases, if the situation doesnt feel quite right and an employer is offering a termination agreement that a person doesnt agree with, it may be wise to consult an attorney to look over the contract. Sometimes the language therein can be wordy and misleading at best. Its always good to take time and read through termination agreements completely. There are typically various sections of termination agreements that closer attention should be paid to.

Understanding Termination Agreements
There are certain stipulations placed on a terminated employee within a termination agreement. Some stipulations may include a non-compete clause. A non-compete clause means that the employee may not be allowed to seek employment with certain companies. Its smart to be aware of what companies you are restricted from applying to.

Also pay close attention to a non-disclosure or confidentiality clause. This means that the terminated employee is not allowed to discuss business practices or trade company secrets. Another thing to be on the look out for is wrongful termination. Some employers may disguise a wrongful termination as a layoff. Discrimination, however wrong it may be, is still practiced.

Many companies will provide executive compensation to their key employees for a number of reasons. Because the management team of a company plays such an important role in the companys success, their superiors want to make and keep them happy and content. When executives are being well taken care of as far as compensation, they can then focus on the performance of their company.

An executive compensation agreement is typically administered at the beginning of a persons employment period. The agreement is in the form of a contract that both the employer and employee sign. At any time, however, the contract can be reviewed and audited to keep it up to date and competitive. The contract should be looked over in detail and its even advisable for an attorney to check the validity of its content.

Content of an Executive Compensation Agreement
When an executive is hired on with a company, many terms of his or her employment should be discussed. In some cases the employee will commit to a certain number of years with a company. Usually a base salary is discussed and oftentimes, such as in a sales position, a commission or bonus percentage will also be determined. An important part of executive compensation should be a benefits package. If negotiated well, a good benefits package can be extended even after the employment period such as in retirement.

Stock options are another key element in a compensation agreement. Executives can typically choose whether or not they take bonuses in this form or cash form. At the end of an employment contract, the executives can either cash in their stocks or keep them. If stock options are something that executives consider, its wise to research the market and keep updated on the performance of the stock.

Without a board of directors to keep a watchful eye on the performance of a company and the executives running it, mistakes and issues can arise that arent properly handled. The board of directors typically plays an integral role in managing the companys best interests and those of the shareholders. The shareholders have a large stake in the companys success and therefore need an entity that acts as a type of third party.

How the Board of Directors Is Assembled
Members of the board are elected individuals voted into the position by the shareholders. They are a separate entity from the companys executives and therefore can analyze and manage the companys progress and success without bias. The directors are in a major position of trust put in place to implement structure, provide a basis of values, set and review objectives, and present a forum for open discussion.

To maintain and uphold trust within the board, there are a number of rules and regulations set forth in what is termed the Articles of Association. If one or any of the directors ignore or violate the laws, they can be, at any time, dismissed. The dismissal of a director comes from the recommendation of the shareholders. Although the board appoints the directors, they cannot dismiss them. The shareholders also determine how many directors will make up the board.

The overall mission and direction of a company is determined by its board of directors. Although the board typically meets only a few times a year, everything from possible mergers and acquisitions to management delegation is discussed. The board of directors is a very powerful and necessary entity that holds together the very frame of the company it directs.

The chairman of the board is generally an elected officer of a corporate board who holds the highest ranking out of all of its directors. The chairman of the board usually presides over the board meetings and in some cases plays the double role of CEO as well as chairman. One of the specific jobs of the chairman of the board is to evaluate the overall performance of the executives, including the CEO, posing a slight conflict of interest.

The board provides a great deal of advice and criticism to its executives. The main purpose of the board is to represent the interests of the shareholders by evaluating the performance of the companys executives and reassuring them that their investments are sound. The executives performances should be assessed in terms of ethics, finances, sales, and other areas associated with the operation of a corporation. With the chairman at the head, the board discusses the future of the company as well as sets financial and operational goals concerning progress.

Election to Chairman of the Board
The chairman of the board is an elected position. However, there has been increased controversy over the matter due to CEOs moving into the position. Many argue that the CEO should not hold that title as well and cannot criticize himself fairly. Proponents of the situation say the CEO should be in charge of himself completely, therefore accepting full responsibility for his actions.

In either case, the chairman of the board is liable for the actions of both his board and the executives within the company. If the company is not being run in the most efficient and profitable manner, the shareholders may pull out. When shareholders pull out a venture, it can often times give a company a bad reputation. On the other hand, a superb chairman will implement change where change is needed and with aid from the board members, keep the well-oiled machine running smoothly.

Getting noticed by top corporations is a key necessity when compiling senior executive resumes. Oftentimes more emphasis and thought is placed upon the interview itself rather than the resume. The truth is a bad resume can result in not getting an interview. Building a resume that pinpoints a persons skills and experience appropriately can mean the difference between landing the senior executive position and being passed over for a lesser-qualified applicant.

Senior executive resumes are in fact a serious marketing tool and should be looked at as an addition to a job-searching arsenal. Unfortunately, too many professionals are simply passed over because their resumes fails to deliver an intriguing profile of the candidate. Many under qualified applicants may win an interview based on their resumes. But how does one get noticed? How does a strong, well-qualified applicant get his or her foot in the door? The answer is with a superior resume.

Senior Executive Resumes that Win
There are many myths, opinions, and suggestions when it comes to writing a resume. Its actually quite simple. Be unique, clear and concise, confident, and thorough. Dont sell yourself short. Anything that will set you apart from your competitors is one step closer to the interview. One myth that gets adopted frequently is that Your resume should only be two pages in length. This statement just isnt true. Be careful not to fall into the resume traps that so many people struggle with. There are many resources that can be checked for tips on writing an outstanding resume.

Many executive search firms have great resources giving advice on writing a winning resume. When it comes to senior executive resumes a persons profile and accomplishments should be highlighted above all else. The profile should be at the top of the page proving confidence, clarity and eligibility.