Montana Employment of Executive with Stock Options and Rights in Discoveries
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FAQ
An executive compensation agreement is a binding contract between a company and one of its most important and powerful employees.
In the discrimination setting, the Montana Human Rights Act applies. While exceptions exist, generally, punitive damages are unavailable in Montana for wrongful termination or constructive discharge. Damages for wrongful discharge, in Montana, are limited to four years of wages and fringe benefits.
An executive employment contract is a written employment agreement, usually made between a highly compensated executive and an employer, that contains more expansive terms and conditions than an ordinary employment agreement. Executive Employment Contracts from the Executive's Perspective.
In Montana it is unlawful for an employer to fire you in certain circumstances, such as: You were fired because you refused to violate public policy, or reported a violation of public policy, You had finished your probationary period and your employer did not have good cause to fire you.
No. Montana is not an at will state. In some instances, the Wrongful Discharge From Employment Act does not apply, but generally, once an employee has completed the established probationary period, the employer needs to have good cause for termination.
Under the Act, a discharge is wrongful if it is in retaliation for the employee's refusal to violate public policy or for reporting a violation of public policy. If the discharge is not for good cause and the employee has completed the employer's probationary period of employment it will amount to a wrongful discharge.
Montana ranked especially high in its rate of new entrepreneurs. According to U.S. Census Bureau data, the number of new business applications in the state rose 50% between January of 2020 and January of 2021.
Montana is one of the only states whose law allows for employees to have an extra-layer of protection. In other states employers can fire an un-contracted at-will employee at any time and for any legal reason.
An executive's employment agreement typically will set an effective date and state that the initial term of employment will be for a period of years subject to earlier termination under other provisions of the agreement.