LEO: Law Firm - Partnership Agreement  LE Op. 880

 

Law Firm - Partnership Agreement.

 

March 11, 1987

 

It is not proper for a law firm, which is a professional corporation, to

implement an unqualified deferred compensation plan which contains an

agreement restricting employee attorneys from practicing within a "

reasonable radius" after voluntarily withdrawing from the firm if the

attorneys will seek to obtain their benefits under the plan when the plan

involves deferred compensation or interest earned on the investment of

that attorney's deferred compensation.

 

It is not improper for a law firm, which is a professional corporation,

to implement an unqualified deferred compensation plan which contains an

agreement restricting employee attorneys from practicing within a "

reasonable radius" after voluntarily withdrawing from the firm if the

attorneys will seek to obtain their benefits under the plan if the

benefits from such a plan come from funding by the employer corporation or

partnership or third party. [ DR:2-106]

 

Committee Opinion March 11, 1987

 

CROSS REFERENCES

 

See also LE Op. 1232.