Robert Adelson, Esq.
  • Blog
  • About

Severance Compensation Package for Director, VP and C-Level Executives

1/14/2023

0 Comments

 
Last Wednesday, on January 4, 2023, the executive career advancement website IvyExec  published an article I wrote on “Severance Compensation Package for Director, VP and C-Level Executives”

This new article is designed not only for CEOs, COOs, CSOs, CTOs and other C-suite and senior executives in technology and life sciences, and also for other senior executives, and in other areas of the economy as well, but even for many VPs, directors and mid-level executives, who at one or more points in your career may face employment termination.  

Termination often comes as result of a change in ownership, control or top management that wants to clean house and bring in their own team, regardless of your success and past contributions.  In that case you might be called in and told “we’ve decided to go in a new direction…” classic code for your job is toast.  Other times a series of changes occur that make it hard for you to continue.

In my new article, I address  the following questions:
  1. Why do you need to have a severance package in your executive job offer?
  2. When can you later negotiate a severance agreement or package that you could not obtain in your job offer when you joined the company?
  3. What is a typical monetary executive severance package for VPs, directors, CEOs, CMOs and other C-level executives?
  4. What other non-monetary separation terms should you seek?

My discussion of monetary terms includes not only cash salary and bonus but key equity terms as well, so that a negotiated severance package, regardless of the timing and circumstances, is designed to make you whole for what you are losing with employment termination.

The discussion of non-monetary issues in the severance package includes important issues of Severance Triggers, Restrictive Covenants, Non-disparagement,  and Release of claims.

To see my full IvyExec career advancement website article, go to LINK: https://www.ivyexec.com/career-advice/2023/severance-compensation-package-for-executives/

Or on my website at  https://www.executiveemploymentattorney.com/severance-compensation-package-for-director-vp-and-c-level-executives/

IvyExec hosts articles and webinars from experts in the career, leadership, and business spaces who wish to share their knowledge with our audience.  In April 2021, I was invited to write for IvyExec since it seeks original content on the topics of career development, leadership, and business strategy as it applies to senior-level and C-Suite professionals.  IvyExec blog posts and webinars are shared with its community of more than 2 million members on its website, in its newsletter, and on its social media channels.  https://www.ivyexec.com/career-advice/write-for-us/
IvyExec claims a “Community of 2.5M+ Leaders”. See also  – https://www.ivyexec.com/
​

It is my hope that this article will be helpful to CEOs, CMOs, CSOs, CTOs and other C-suite and senior executives in technology and life sciences, who are being recruited and have now, or anticipate soon receiving, an attractive offer to move on, yet are also critical to their current company, where the current company might provide a significant retention package for the executive to stay.   If you or any colleague of yours has a need in this area, please do reach out to me at [email protected].
0 Comments

Triggering Executive Severance to Protect Your Interests in Case of COVID-19 or Other Changed Circumstances

5/30/2020

0 Comments

 
Six days ago, on May 27, 2020, CEOWorld magazine published an article I wrote on “Triggering Executive Severance to Protect Your Interests in Case of COVID-19 or other Changed Circumstances”.  The magazine advised me that I can use “Featured in the CEOWORLD magazine” and the CEOWORLD “Logo” on my website.
Picture
This was my 28th article published in CEOWORLD. Earlier this year, the editor advised that I can add CEOWORLD magazine in my LinkedIn profile’s “Experience Section” as an “Opinion Columnist.” and authority in the field.  See https://ceoworld.biz/author/robert-adelson/

This article, my most recent, published May 27th, is designed for CEOs, C-level and senior executives, especially those who, once on the job, may find that their chances for success become daunting because changed circumstances beyond their control.  For many such executives, the severe economic downturn arising in connection with the COVID-19/coronavirus crisis may cause great reductions in expected base, bonus, equity and LTI compensation and reduced duties and responsibilities as well.​

However, the article is not limited to COVID-19.  The article also discusses other circumstances where clients of the author have also experienced such negative effects, as result of dashed expectations, including where the executive accepted his or her job offer for a CEO, C-level or other senior executive position in reliance on any of these company actions:
  • Keeping a major customer account,
  • Retaining the services of a key man or woman executive,
  • Keeping or achieving regulatory approval,
  • Keeping or retaining a key source of funding,
  • Company possessing the positive financial position represented to you, a position on which you can build for growth.
ambitious executive
The article then concludes with proactive steps the executive can take in your executive employment and job offer negotiations to protect yourself in the event of such changed circumstances in the future.  This includes the crafting of severance terms with triggers tailored to your situation in the event of dashed expectations. Thus, the executive would have an executive contract that provides that if circumstances change, such that the job is no longer what you bargained for, you can move on to a new opportunity and still be made whole as you do so.
To see my full CEOWorld magazine. article, go to LINK:
https://ceoworld.biz/2020/05/27/triggering-executive-severance-to-protect-your-interests-in-case-of-covid-19-or-other-changed-circumstances/
Or on my website at https://www.executiveemploymentattorney.com/triggering-executive-severance-to-protect-your-interests-in-changed-circumstances/
With more than 12.4+ million-page views, CEOWORLD magazine is the world’s leading business magazine written strictly for CEOs, CFOs, CIOs, CSOs, senior management executives, business leaders, and high net worth individuals worldwide.
The editor has also advised that I can add CEOWORLD magazine in my LinkedIn profile’s “Experience Section” as an “Opinion Columnist.” and authority in the field.  See https://ceoworld.biz/author/robert-adelson/
It is my hope that this article will be helpful to suggest a potential remedy in job offer negotiations to CEOs, COOs, CMOs, other C-Level and senior executives who are considering a new executive position or giving up other opportunities, and, acting in reliance on the promises made by the employer, and seek protection against potential changed circumstances, whether from a pandemic, loss of a key customer, loss of key personnel, a negative regulatory ruling, loss of financing  or otherwise, so the executive can if that happens move and be made whole. If you or any colleague of yours has a need in this area, please do reach out to me at [email protected].
0 Comments

    Archives

    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    January 2021
    November 2020
    October 2020
    September 2020
    July 2020
    May 2020
    April 2020
    February 2020
    January 2020
    December 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    July 2018
    June 2018
    May 2018
    March 2018
    November 2017
    September 2017
    August 2017
    July 2017
    June 2017
    April 2017
    March 2017
    February 2017

    Categories

    All
    Benefit Corporations
    Biotech Executive
    Biotechnology Executives
    Board Of Directors
    Career Advancement Covenants
    Career Prospects
    CEO Bonus Compensation
    CEO Compensation
    CEO Compensation Package
    CEO Contract
    Ceo Contract Terms
    Ceo Employment Agreement
    CEO Employment Contract
    CEO Equity Compensation
    Ceo Job Offer
    CEO Job Offer Letter
    Certified B Corps
    CFO Compensation Package
    CFO Contract
    CFO Employment Agreement
    CFO Employment Contract
    CFO Job Offer Letter
    CFO Severance Agreement
    Change Of Control
    Change Of Control Agreements
    CIO
    Clawbacks
    C-level Equity Compensation
    C Level Executive Pay
    C-level Executive Pay
    CMO Employment Agreement
    CMO Employment Contract
    Companies
    Competition
    Contractors
    COO
    COO Compensation
    Coo Compensation Package
    COO Employment Agreement
    COO Employment Contract
    COVID-19
    CSO
    Cso Compensation
    CSO Compensation Package
    CSO Contract
    CSO Employment Agreement
    CSO Employment Contract
    CSO Severance Agreement
    C-suite Executive Compensation
    CTO Compensation Package
    CTO Contract
    CTO Employment Agreement
    CTO Employment Contract
    CTO Severance Agreement
    Defamation
    Disparagement
    Employees
    Employment Contract
    Employment Discrimination
    Equity Compensation
    Executive Bonus
    Executive Bonuses
    Executive Career
    Executive Career Advancement
    Executive Careers
    Executive Compensation
    Executive Compensation Attorney
    Executive Compensation Negotiation
    Executive Compensation Package
    Executive Consulting
    Executive Contract
    Executive Contract Negotiation
    Executive Contract Terms
    Executive Employment
    Executive Employment Agreement
    Executive Employment Agreement Lawyer
    Executive Employment Contract
    Executive Employment Lawyer
    Executive Employment Terms
    Executive Equity
    Executive Equity Compensation
    Executive Job Offer
    Executive Job Offer Letter
    Executivepay
    Executive Pay
    Executive Performance Compensation
    Executive Relocation Package
    Executive Retention Agreement
    Executives
    Executive Salary
    Executive Separation
    Executive Severance Agreement
    Executive Severance Lawyer
    Executive Severance Package
    Executive Severance Terms
    Executive Stock Compensation
    Executive Stock Options
    Executive Termination
    Family Businesses
    Female Executives
    Founder CEO
    Founders
    Incentive Stock Options
    Interim CEO
    IRC Section 1202
    Market Niche
    Massachusetts Employment Law
    Massachusetts Non Compete Agreement
    Massachusetts Non-compete Agreement
    Medical Devices
    Mutual Nondisparagement
    Negotiations
    Non Compete Agreement
    Non-compete Agreement
    Non Compete Agreement Attorney
    Non-compete Agreement Attorney
    Non-disparagement
    No Rehire Clause
    Phantom Stock
    Promissory Estoppel
    Remote CEO
    Remote Executive
    Remote Work
    Restricted Stock
    Restricted Stock Units
    Restrictive Covenants
    Retention Agreement
    Retention Bonus
    RSU
    RSUs
    Section 83(b)
    Senior Executives
    Severance Triggers
    Social Entrepreneurship
    Startup
    Startup CEO
    Startup Equity
    Startup Funding
    Stock Options
    Taxation
    Termination For Cause
    Toxic Executives
    Turnaround CEO
    Women Executives
    Womeo CEOs
    Wrongful Termination

    RSS Feed

Powered by Create your own unique website with customizable templates.
  • Blog
  • About