Exit review
A short written assessment of what you are entitled to, where your leverage lies and what your options are. Done before you agree to anything.
Output. A short written assessment of entitlements, leverage and options.
Who it is for
An executive who has received, expects or is considering an exit. You may have a letter in hand, a meeting in the diary, or only a sense that the conversation is coming.
The problem
The first offer usually comes with a deadline. It is drafted by the employer's side, and it may say little about deferred pay, share awards or how the regulator will be told. Signing quickly is easy. Undoing a signature is not.
Approved person. Someone in a role a regulator must approve, such as an MLRO or a head of compliance or risk.
What it covers
- Contract and policies
- Your contract, the staff handbook and any side letters, read together.
- Notice, garden leave and pay in lieu
- How long your notice is, whether you can be kept at home, and whether it can be paid instead.
- Bonus, deferred pay, shares and options
- What happens to variable pay and unvested awards when you leave, including any malus and clawback terms.
- Restrictive covenants
- Non-compete, non-solicitation and confidentiality terms, and how far they reach.
- Regulatory position
- For approved persons in an MGA key function or an MFSA approved role, how the exit will be notified and what it may say.
- Tax and HQP status
- Points flagged for your tax adviser, including your position under the Highly Qualified Persons rules. I do not give tax advice.
- Claims under Cap. 452
- A realistic view of any claim under the Employment and Industrial Relations Act, and what it is worth as leverage.
Common questions are answered in the FAQs.
How it runs
Fixed scope, one or two video calls, documents by email.
- 1.
Documents
You send your contract, policies, plan rules and any correspondence about the exit by email.
Plan rules. The document that governs a bonus, share or option scheme. It often matters more than the contract.
- 2.
First call
A video call to understand what has happened, what has been said, and what you want from the exit.
Side letter. A separate agreement that changes or adds to your contract.
- 3.
Written assessment
A short document setting out your entitlements, where your leverage lies, and your realistic options.
- 4.
Second call, if needed
We go through the assessment together and decide whether, and how, to negotiate.
Fixed scope. What the review covers is agreed before it starts.
Next step
Send a short message saying where things stand and whether there is a deadline. If you want terms negotiated after the review, the work moves into negotiation and settlement.