Was hired at small firm in 2020 (8 people including 3 attorneys) and now have grown incredibly and expected to do very well this year and next 5. What’s best way to renegotiate contract? As managing attorney, Firm is offering ok base plus discretionary bonus tied to specific tasks but no bonus based on work I produce or profit share. How is comp for managing attorney usually structured?

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I agree with Partner 1: I haven't seen any kind of standardized format for this. Certainly bring up the merits of tying bonuses to your work and profit share, and obviously aim high since expected outcomes are high. Congrats and wishing you the best.

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I represent small firms as outside General Counsel (feel free to DM if you want to talk small firm risk management). I’ve seen dozens of managing attorney agreements and none have been all that similar, I don’t think there’s any standard - I’d recommend you decide what the role is worth to you and take that to the firm. Good luck!

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Thanks so much! The part I’m struggling to nail down is profit share/bonus percentages so if any insight on that, that would be great!

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