January 9, 2015 –
Executive compensation packages worth bragging about

Gunster attorneys advise business executives on a host of corporate legal matters, including negotiating and finalizing executive compensation and employment contracts.

This past year, Gunster attorneys assisted in the hiring of a number of successful female senior executives by established and Fortune 500 organizations under mutually beneficial pay and equity arrangements. Below are some highlights. If you want to know how Gunster’s team of attorneys may help you or your business, please contact William J. Hyland Jr., Thomas A. Hickey, Robert B. Lamm, or any member of our corporate law team.

Big fish, new pond

Zeena Freeman was recently appointed president of Salt Lake City-based Black Diamond, a global leader in active apparel, to oversee its business operations.

She was also appointed to its board of directors.

This was a notable hire for Black Diamond because it’s the first in which a senior executive outside the firm was hired to replace one of the company’s founders. A transition period was built into the arrangement, allowing the current CEO to continue serving in that capacity for a prescribed period of time.

Black Diamond is looking to grow its business and evolve its products. To that end, Freeman’s experience and focus on e-commerce and digital innovation proved pivotal to the hire.

Find out more about the appointment: Black Diamond appoints former Sony and Gap senior executive, Zeena Freeman, as president (Nasdaq Globe Newswire, 8/11/14)

Breaking ground

Karen S. Rohan has been named president of Aetna, based in Hartford, Connecticut.

Rohan previously served as executive vice president of local and regional businesses at Aetna. Beginning Jan. 1, she will also be responsible for national and government segments, as well as specialty products.

A significant compensation package was assembled with an appropriate blend of cash, bonus and equity incentives.

In this and other public company contexts, Gunster attorneys focus on terms that address the needs of the company and its executives, including securing high passing votes on “say on pay” proposals and addressing investor concerns regarding compensation.

Find out more: Rohan named Aetna president (Hartford Courant, 12/1/14)

All about the brand

Two additional deals closed by Gunster’s team involved executive compensation packages that were tied to brand performance.

In the first, Lizanne Kindler was promoted to CEO of Talbots, a specialty retailer of women’s classic clothing, owned by the same private equity firm that owns Nine West.

In the second, Peggy Eskenasi was hired as executive chair of the brand management company at Nine West, a specialty retailer. Its brands include Anne Klein, Givenchy Jewelry, Nine West, Gloria Vanderbilt, Dockers and Easy Spirit.

What made both deals notable is the corporate transition from public company to private, and the resulting complexities when it came to securing the benefit of the bargain on behalf of the newly hired executives.

Executive compensation and employment contracts

Gunster’s deferred compensation practice provides sophisticated legal advice on salary, bonus and equity compensation arrangements for executives and general employees.

Consisting of corporate and tax lawyers, our legal team advises on the design and implementation of qualified and nonqualified deferred compensation for employees and executives that are intended to advance incentive and retention objectives.

Our attorneys work with both taxable and tax exempt organizations. The firm is experienced in all types of equity based compensation, qualified and non-qualified retirement plans, health and welfare benefits, ERISA issues and plan terminations.

Find out more about Gunster’s corporate, employment and tax law practices.

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