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:
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 firstname.lastname@example.org.
Triggering Executive Severance to Protect Your Interests in Case of COVID-19 or Other Changed Circumstances
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.
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:
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:
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@example.com.