Florida’s Premier Executive Compensation Attorneys
Executives are often the first workers to arrive and the last to leave. Depending on the company, executives may take on enormous financial and reputational risks when joining a business — and their compensation should reflect this fact.
Wenzel Fenton Cabassa, P.A. has represented employees at all levels since 2001. Our Florida executive compensation attorneys live and work in the state. We use our local knowledge of Florida-based businesses and executives to negotiate the best deal possible based on market conditions.
If you are an executive in the Sunshine State, turn to our premier team of executive compensation attorneys for trusted and effective representation.
Components of Executive Compensation in Florida
A seasoned executive compensation lawyer keeps up on the latest developments in the field. Our experience gives us insight into what companies currently offer and how they structure executive compensation package agreements and contracts.
These insights help us tailor creative solutions to meet your goals based on the local economic climate, industry standards, and legal compliance issues. You should consider the following components as you decide what to include in the negotiation:
Base Salary
You typically receive your base salary in regular paychecks. Most companies will prefer to pay a lower base salary and higher performance bonuses. This structure ensures you work toward the company’s goals. At the same time, however, you have bills to pay.
That is why we work to ensure your base salary number will cover your living expenses. We also analyze your base salary in light of what comparable companies in Florida pay to verify that your paychecks fairly reflect your value to the company.
Performance Bonuses
Companies love performance bonuses because they help justify your salary to shareholders, investors, and creditors. We verify that the terms of the performance bonuses are clear and achievable. Specifically, we fight for bonus standards that are within your abilities and not left purely to chance.
We also review the bonus amount, whether it is paid in cash, stock, or another form, to determine whether the board has promised a fair amount for the work you will perform and the target you must reach. Often, we will use our experience and knowledge of other companies’ practices to measure the fairness of your performance bonuses.
Long-Term Incentives
Long-term incentives usually give you a road map to where the board and shareholders want the company to go. Like performance bonuses, long-term incentives need to be clear and achievable, and the reward should be fair. We negotiate for appropriate long-term incentives based on the difficulty of the goal.
Retirement Plans
You will not work forever. It is essential to consider your retirement timeline and what you will need after you retire. For example, if this might be your last position before retirement, you may want to be more aggressive in asking for retirement-related compensation and benefits.
Ideally, the company will max out your 401(k) contributions and set up a non-qualified deferred compensation plan to help you plan for your future retirement needs and manage your present income tax concerns. Deferred compensation, like stock options, can also help you gain equity in the company you helped to build.
Fringe Benefits
Anything outside of your normal compensation is considered a fringe benefit, such as:
- Health insurance
- Stock options
- Use of a corporate car or jet
- Membership in country clubs
- Tickets to sporting events
Our executive compensation attorneys use their knowledge of the local business customs to get the additional benefits you need.
Navigating Salary Negotiations in Florida
We use a strategic approach to negotiating executive salaries. If an attorney plays hardball in Florida’s corporate world, they may potentially alienate the board’s executive compensation committee. Conversely, if the attorney is not aggressive enough, they might not achieve your goals.
That is why we rely on local market data and industry trends to explain to the board that your negotiating position is reasonable based on the following factors:
- The job position
- The size of the company
- The industry
- Compensation paid to executives by local competitors
Our Florida executive compensation attorneys also explain factors unique to your situation, such as competing offers or a move from another state.
At the same time, we also appreciate that compromise plays a part in every negotiation. As we exchange offers and counteroffers with the company, we can:
- Analyze their impacts on you and your goals
- Advise you of the risks and rewards of each proposal
- Devise creative solutions if you choose to counteroffer
- Present your counteroffer to the board and advocate for your position
Above all else, our executive compensation attorneys always keep you in the loop because we are negotiating on your behalf.
Ensuring Compliance With Local and Federal Laws
Executive compensation has become a hot-button issue. As shareholders, board members, and regulators scrutinize executive compensation packages, we consider potential legal compliance issues under state and federal law.
When advising you about executive compensation packages, we evaluate factors such as:
- Federal income tax laws and regulations
- Federal securities laws governing executive compensation disclosures
- Florida corporate laws
- Florida laws limiting executive salaries for nonprofits and government contractors
Despite calls to regulate executive compensation, there is no cap on how much an executive can earn in Florida. However, it is crucial to avoid triggering a rebellion by directors or, worse yet, a lawsuit from shareholders over your pay.
We can advise you on the legal risks you face so that we can structure a lawful and effective compensation package.
Successful Outcomes in Executive Compensation
Our Florida executive compensation attorneys have successfully represented many new and seasoned executives while negotiating for compensation.
Why Choose Our Florida Attorneys for Your Executive Compensation Needs
Your executive compensation package might be one of the most important negotiations you undertake in your career. The Florida executive compensation attorneys at Wenzel Fenton Cabassa, P.A., have the knowledge, experience, and deep business connections necessary to successfully negotiate a compensation package that meets your goals.
We can tailor a negotiation strategy based on the company and your needs. This process has served both us and our clients well, creating a long track record of successful client partnerships.
To learn how an executive compensation lawyer from Wenzel Fenton Cabassa, P.A. can help you obtain the executive compensation package you deserve, contact us for a consultation today.
“I can not thank Chris Saba enough for what he has done for me. I honestly felt like giving up, but after talking to Chris, I felt confident about moving forward with my decision in pursuing this case. He thoroughly explained the process and worked on my case in a timely manner. He kept me informed along the way and is a great person to work with. I truly appreciate the time, effort and devotion he has put towards my case. I highly recommend this attorney’s office and definitely, recommend Chris Saba. Thank you.”
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