Negotiating your separation agreement

Hey LinkedIn friends! ??

I've been reflecting on the horror stories that I am hearing from CISOs and other security leaders who were caught off guard by this recession. 90% of the CISOs I have been talking to do not have any employment contract or separation agreement.

As such, I wanted to call out the importance of having a well-thought-out separation agreement for CISOs. I also wanted to share some insights on what every Chief Information Security Officer should consider including in their separation agreement. After all, it's better to be prepared and ensure a smooth transition when it's time to part ways with your employer.

Here are some best practices to keep in mind when negotiating your separation agreement as a CISO:

? Severance Pay: Make sure to negotiate a fair severance package, which could be a multiple of your base salary, depending on your tenure and the circumstances of your departure.

? Equity Vesting: Discuss the treatment of your unvested equity grants upon separation, such as accelerated vesting or an extended exercise period for stock options.

? Health Benefits: Consider negotiating continued health insurance coverage for a certain period after your departure, especially if you're in between jobs.

? Non-Disparagement & References: Include clauses that protect your reputation, such as a mutual non-disparagement agreement and the provision of a positive reference for future job opportunities.

? Post-Employment Restrictions: Make sure any non-compete or non-solicitation clauses in your employment contract are reasonable and don't unnecessarily restrict your career growth post-separation.

? Outplacement Services: Negotiating for outplacement services, such as career coaching or job search assistance, can help support your transition into a new role more effectively.

? Transition Assistance: Consider including provisions for a smooth handover of responsibilities and ongoing collaboration for a specified period, ensuring that the company's security and data protection is not compromised during the transition.

? Intellectual Property Rights: Clearly define any intellectual property rights related to your work during your tenure, including ownership of any inventions, patents, or copyrights.

? Confidentiality of Separation Terms: Including a clause that requires both parties to maintain confidentiality regarding the terms of the separation agreement can help protect your privacy and reputation.

? Return of Company Property: Ensure that the agreement outlines the process and timeline for returning company property, such as laptops, mobile devices, and access cards, to avoid any misunderstandings or disputes.

? Mutual Release of Claims:?Including a clause that mutually releases both you and the company from any potential legal claims can help to prevent future disputes and provide a clean break for both parties.

? Payment of Accrued Vacation and Bonuses: Ensuring that you receive payment for any accrued but unused vacation time and any earned bonuses, subject to the company's policies and applicable laws.

? Legal Fees: In some cases, you may want to negotiate a provision that covers reasonable legal fees incurred in reviewing or negotiating the separation agreement, especially if the process is complex or contentious.

? Tax Implications: It's crucial to be aware of any tax implications that may arise from the terms of your separation agreement. Consulting with a legal or tax professional can help ensure that you're not caught off guard by any potential liabilities.

Remember, a well-negotiated separation agreement can help ensure a smooth and amicable departure, protecting your interests and providing a safety net as you transition to your next opportunity.

Do you have any other suggestions for what a CISO should include in their separation agreement? Let's keep the conversation going in the comments below! ??

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