Six days ago, on April 28, 2020, CEOWorld magazine published an article I wrote on “Has a New Employer Withdrawn Your Executive Job Offer? How “Promissory Estoppel” can give you a legal remedy”. The magazine advised me that I can use “Featured in the CEOWORLD magazine” and the CEOWORLD “Logo” on my website. This was my 27th 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 April 28th , is designed for CEOs, C-level and senior executives, especially those who receive a job offer, then give notice to their current employer and later see the new offer rescinded or withdrawn due to the economic downturn or turmoil arising from the COVID-19 /coronavirus pandemic or other changes at the new employer. With your old job now lost, this article discusses use of the legal doctrine of promissory estoppel as a remedy for the now out-of-work executive. The article also indicates potential use of this promissory estoppel remedy in other cases where an employer does not honor other oral promises to the executive, on which he or she relied, including in these circumstances:
The article concludes on a cautionary note that while some major verdicts and settlements have been obtained by C-level executives using promissory estoppel against employers who failed to honor their promises, the doctrine is not universally upheld in the courts of all states. So, it is best to get your executive contract clear and in writing, but when you have not done that, consult with an experienced executive employment attorney and promissory estoppel may still give you a remedy. To see my full CEOWorld magazine. article, go to LINK: https://ceoworld.biz/2020/04/28/has-a-new-employer-withdrawn-your-executive-job-offer-how-promissory-estoppel-might-give-you-a-legal-remedy/ Or on my website at https://www.executiveemploymentattorney.com/has-a-new-employer-withdrawn-your-executive-job-offer-how-promissory-estoppel-might-give-you-a-legal-remedy/ With more than 12.4+ million-page views, CEOWORLD magazine is the world’s leading business magazine written strictly for CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide. https://www.linkedin.com/company/ceomagazine/ 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 to CEOs, COOs, CMOs, other C-Level and senior executives who have been enticed to take a new executive position or to give up other opportunities, and, after acting in reliance on the promises made by the employer, find that the executive job offer is rescinded or withdrawn or the employer in some other way breaks an important promise made to you, on which you relied. If you or any colleague of yours has a need in this area, please do reach out to me at [email protected].
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A week ago, on March 31, 2020, CEOWorld magazine published an article I wrote on “Executive Employment Agreement – An Overview for the Newly-Minted CEO or C-Suite Executive”. The magazine advised me that I can use “Featured in the CEOWOLRD magazine” and the CEOWORLD “Logo” on my website. This was my 26th 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. The magazine has also created a library of my articles on its website, where you can click on and access any of my more than 20 articles with CEOWORLD, published in recent years beginning in 2016. See https://ceoworld.biz/author/robert-adelson/ This article, my most recent, published March 31st, is designed for CEOs, C-level and senior executives, especially those who receive an executive job offer or employment contract for their first CEO or C-level position. The article provides answers and explanations on these important questions:
The article also includes a brief discussion of key terms to seek in a CEO or C-suite employment agreement including terms on the following:
To see my full CEOWorld magazine. article, go to LINK: https://ceoworld.biz/2020/03/31/executive-employment-agreement-an-overview-for-the-newly-minted-ceo-or-c-suite-executive/ Or on my website at https://www.executiveemploymentattorney.com/executive-employment-agreement/ With more than 12.4+ million-page views, CEOWORLD magazine is the world’s leading business magazine written strictly for CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide. https://www.linkedin.com/company/ceomagazine/ 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 newly-minted CEOs, COOs, CMOs, other C-Level and senior executives to understand the importance of their first executive employment agreement and to aid them in the negotiation for appropriate terms commensurate with the position each is offered. If you or any colleague of yours has a need in this area, please do reach out to me at [email protected]. Author: Robert AdelsonRobert Adelson has been a corporate and tax attorney since 1977. He began as an associate at nationally prominent New York City “mega” law firms, first at the Wall Street firm Dewey Ballantine Bushby Palmer & Wood and later at the Park Avenue firm Weil Gotshal & Manges. In 1985, Adelson returned home, where he has since established himself as a respected Boston business attorney. He has attained partner at several small and midsize Boston law firms, most recently at Lawson & Weitzen LLP and then Zimble Brettler LLP, where he was a partner from 1994 to 2004 before becoming a partner at Engel & Schultz LLP from 2004 to 2019. With the breakup of that firm over semi-retirement of senior partners, Robert Adelson formed the firm Adelson & Associates, LLC, where he is the principal, that commenced operations 1/1/2020.
Last week, on March 27, 2019, CEOWorld magazine published an article I wrote on “From Founder-CEO to CTO or CSO: Key Protections in Succession Planning When You Face the Founder’s Dilemma” The magazine advised me that I can use “Featured in the CEOWORLD magazine” and the CEOWORLD “Logo” on my website. This article is designed for founder or co-founder CEOs of successful companies in the innovation economy who may be asked and even pressured by VCs to let a “professional” CEO take your place at the helm to scale the company to the next level, with you to then step aside to fall back to take a CTO or CSO position in what had been your company. This article discusses how and why this situation called the “Founder’s Dilemma” occurs, and then goes on to offer advice to the founder CEO who will transition to the CTO or CSO role. My article suggests key Founder protections including:
My article also discusses protections for the founder CEO and the company in choice of your Board, choice of investors and the founder taking a big role in selection of your successor CEO and transition. To see my full CEOWorld magazine. article, go to LINK: https://ceoworld.biz/2019/03/27/from-founder-ceo-to-cto-or-cso-key-protections-in-succession-planning-when-you-face-the-founders-dilemma/ Or on my website at https://www.executiveemploymentattorney.com/from-founder-ceo-to-cto-or-cso-key-protections-in-succession-planning-when-you-face-the-founders-dilemma/ With more than 12.4+ million-page views, CEOWORLD magazine is the world’s leading business magazine written strictly for CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide.
It is my hope that this article will be helpful to Founder CEOs who have successfully launched their companies, taken in VC or angel investment and now face the Founder-CEO dilemma as investors push for a “professional CEO” to take your place at the helm as the successor CEO to lead the company in the scale up and to the liquidity event the investors seek. If you or any colleague of yours has a need in this area, please do reach out to me at [email protected]. On January 28, 2019, CEOWorld magazine published an article I wrote on “Negotiating Your CSO or CTO Employment Agreement” The magazine advised me that I can use “Featured in the CEOWOLRD magazine” and the CEOWORLD “Logo” on my website.
This article was designed for Chief Technology Officers or Chief Technical Officers (CTOs) of software, robotics, e-commerce or other technology-based companies or for Chief Scientific Officers or Chief Medical Officers (CSOs) of a biotechnology, medical device, healthcare or other life science companies, who, when negotiating a new job offer or employment contract or terms of executive compensation need to give attention to essential employment terms relevant to their critical C-level positions in these fast growing and changing industries. Among the important terms for CTO and CSO employment contracts discussed in the article are the following:
Finally, at the end, this article is demarcated as a guide primarily to the CSO or CTO with a new job offer. In the late Spring 2019, I plan to write a separate article whose target audience is also CSOs and CTOs, but this time company founders and former CEOs. These are executives who moved to the CSO or CTO position after a successful launch was achieved, VC money invested and a new “professional” CEO has been or is to be, recruited to scale the company to the next level of growth. That Spring article will focus on the key protections such founder CTOs and CSOs should seek in this corporate transition. To see my full CEOWorld magazine. article, go to LINK: https://ceoworld.biz/2019/01/28/negotiating-your-new-cso-or-cto-employment-agreement/ or on my website at https://www.executiveemploymentattorney.com/negotiating-your-new-cso-or-cto-employment-agreement/ With more than 12.4+ million page views, CEOWORLD magazine is the world’s leading business magazine written strictly for CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide. It is my hope that this article will be helpful to CSOs, CTOs and other senior executives who are in tech and life science industries who are negotiating new job offers, employment contracts or executive compensation packages and should pay attention to the essential contract terms discussed in my article. If you or any colleague of yours has a need in this area, please do reach out to me at [email protected] or call 617-875-8665. About Robert A. Adelson, Esq. Robert A. Adelson, Esq. is a corporate and tax attorney and partner at Engel & Schultz LLP, Boston, Massachusetts. He represents C-Level executives and key employees in negotiations over executive employment terms, equity, compensation, relocation, retention and separation agreements, severance packages, and where necessary suits over wrongful termination. |
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