Executive, Physician and Minority Shareholder Representation

Alan Schorr’s extensive experience in employment law and business matters has made him uniquely qualified to represent clients with a wide range of legal needs. In addition to five decades as a business owner, Alan has a MBA degree, has been Certified by the New Jersey Supreme Court as a Civil Trial Attorney, and has represented executives for more than 30 years. In addition to consulting and negotiating non-compete contracts, severance packages, and compensation plans for executives, he also consults with physician and medical professionals, minority shareholders, and business partners.

Enhancement of Severance Packages

Executives are also employees and can face the same employment problems as any other employee.  Unlawful discrimination, retaliation, and harassment against executives often lead to a break in the employment relationship.  However, executives often face special challenges.  Contractual provisions such as non-compete, arbitration, non-solicitation, and trade secret agreements can severely limit an executive’s ability to find comparable employment after the end of an employment relationship.  Furthermore, the severance offered is often inadequate to fairly compensate the departing executive.  Alan has more than 30 years of experience negotiating enhancement of severance packages and in negotiating the waiver or reduction of restrictive covenants.

Executive Representation

Negotiating, and enforcing executive compensation packages, non-compete contracts, and severance packages requires knowledge and experience with contract and employment laws as well as a nuanced understanding of the needs of the business and the value that the individual provides. Alan has a comprehensive understanding of qualified and nonqualified retirement plans including 401(k) profit-sharing plans and employee stock ownership plans (ESOPS) and is highly effective in negotiating benefits tied to severance including cash bonuses, stock options, and other equity arrangements. He will ensure that Separation Agreements, Non-Compete Agreements, and General Release agreements associated with severance packages offer appropriate compensation or benefits beyond that to which the executive was already entitled in exchange for forfeiting other rights.

Physician Representation 

Physicians and other medical professionals face unique employment issues that require experience and a deep understanding of physician contracts.  Physicians departing medical practices and other medical employment often face oppressive non-compete provisions, clawbacks, and other hurdles which are designed to make it harder for a physician to depart a practice, whether voluntarily or involuntarily.  Physician compensation is often multi-tiered with bonuses and commissions tied to billing and wRVUs.  Alan has represented hundreds of physicians in negotiating their way in and out of employment and partnership situations.

Oppressed Minority Shareholders

 Shareholders holding 50% or less interest in a company do not have majority control over its operations, but they still have significant rights. When majority owners act in a way that unfairly prejudices the minority or favors themselves and these actions or inactions reach the level of being arbitrary, heavy-handed, or overbearing, it is known as minority shareholder oppression. Examples include being left out of management decisions, a lack of transparency regarding the company’s finances or shareholder meetings, paying inflated salaries and bonuses that leave nothing to be distributed to minority shareholders as dividends, and altering corporate bylaws or operating agreements to remove or diminish minority shareholders’ rights.

There are many remedies available to oppressed minority shareholders and LLC members, but putting those remedies into action requires knowledgeable legal representation. Alan has extensive experience in resolving minority shareholder disputes through mediation and negotiation as well as through litigation.

Dissociated Partners

Partnerships are entered into with the best of intentions, but when a partnership goes sour, there are legal issues unique to those situations. When a partner chooses to leave a business, it is referred to as disassociation.  When a partner breaches an express provision of the partnership agreement, becomes a debtor in bankruptcy, or is expelled from the partnership by a court judgment it is considered wrongful dissociation.  Wrongful dissociation creates the potential for personal liability for the exiting individual for damages caused by their actions, as well as a host of other legal complexities for the partnership surrounding incurred debts and obligations, buyouts, and distribution of assets. Negotiating these issues requires both a keen understanding of partnership law, as well as the ability to mediate and, if needed, to litigate.

Schorr & Associates has a well-earned reputation for being aggressive advocates on behalf of our clients and their rights. Executive compensation, physician representation, shareholder rights, and partnership disputes are all complex areas of the law, but our dedication to working in our clients’ best interest and our knowledge of employment and business law ensure that you’re in capable hands.  Call us today to set up a time to discuss your needs.