​Six days ago, on April 28, 2020, CEOWorld magazine published an article I wrote on “Has a New Employer Withdrawn Your Executive Job Offer?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especially those who receive a job offer, then give notice to their current employer and later see the new offer rescinded or withdrawn due to the economic downturn or turmoil arising from the COVID-19 /coronavirus pandemic or other changes at the new employer.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:

• Employer promised full executive employment contract and equity documents and termination occurs before those documents are delivered and signed,

• Executive’s acceptance of a job offer on the condition that he or she can attend a life cycle event and termination after you attend that event,

• Executive gives up a lucrative position to join the new company on the promise of important responsibilities and leadership, with termination before that promise is ever kept,

• Executives gives up other job offers to leave the employer on promise of new executive employment terms that are never fulfilled.

​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 rob@attorneyadelson.com.

We begin this new year 2020 with a new law firm and a new downtown Boston address, but, at the same time, with full continuity for my growing law practice, which saw its best year in 2019.

Here is more information on the new firm:

Robert A. Adelson is now the Principal of Adelson & Associates, LLC.  For fifteen (15) years, from October 2004 through December 2019, Robert Adelson practiced law as a partner of Engel & Schultz, LLP, and at the same time referred legal work to his associates, that is to trusted and experienced colleagues of Mr. Adelson’s including several of his former law partners. However, in December 2019, the lead partners of the Engel & Schultz LLP law firm announced they would go into semi-retirement, go their separate ways, and the office lease would expire in January 2020.  In response, Robert Adelson formed Adelson & Associates, LLC in December 2019 and commenced the new law firm’s operations on January 1, 2020, with the new law firm, Adelson & Associates, LLC, from that date and going forward, taking over all current Robert Adelson clients and matters, as well as all referral of legal work to associates of Robert Adelson.

Commencing tomorrow, 1/15/2020, the address for the new law firm Adelson & Associates, LLC will be 101 Federal Street, Suite 1900, Boston, MA 02110 (another premier Class A office building across the street from our prior building, One Federal Street, with our new offices, this time, on the 19th floor rather than the 21st floor).
The office phone number (617-951-9980 ext 205) and fax number (617-951-0048) are, for the present, those of Engel & Schultz LLP.  However, by the end of January 2020, it is expected the new office phone and fax for Adelson & Associates, LLC will be in place.  If any question arises in this period, when trying to reach Robert Adelson by phone, please use the direct Mobile phone number which remains unchanged and will continue in full use now and going forward  (617-875-8665).

The email for Robert Adelson ( radelson@engelschultz.com ) is, for the present, his  Engel & Schultz LLP email.  The new domain for Adelson & Associates, LLC has been established, and Robert Adelson’s new email is rob@attorneyadelson.com.  However, the seamless migration of radelson@engelshultz.com to rob@attorneyadelson.com  has not yet been completed.  By the end of January 2020, it is expected that the email migration will be completed.  So, until you are advised that the email migration has been completed or you begin to receive email from the new email address, please continue to use radelson@engelshultz.com for all email communications to Robert Adelson.

Our website remains essentially unchanged, with the same internet address – www.executiveemploymentattorney.com.  In marketing, our new shingle and brand will give greater emphasis to my website and marketing emphasis:  “Adelson & Associates, LLC – Executive Employment Attorney.”  The webpage, established for me at CEOWorld magazine, too will remain largely unchanged.  The web address remains –http://ceoworld.biz/author/robert-adelson/ .  At that address, you will have a link to over twenty-five (25) articles Robert Adelson has written over the last few years and published in CEOWorld magazine.  These are articles on executive job offers, restricted stock and stock options, RSUs, executive bonus structures, change of control, executive retention agreements, wrongful termination and constructive termination and many other subjects of interest to CEOs, CFOs, CSOs, CTOs, COOs, VPs and other senior executives in industries ranging from financial institutions, retailers and manufacturers to software, medical devices and biotechnology companies.  From his contributions, Robert Adelson has been recognized by the magazine as an opinion columnist and authority in this field for the CEOWORLD Magazine.

At the same time, Robert Adelson continues to represent a number of small companies, company founders, entrepreneurs and independent consultants.  That will not change. Robert Adelson will continue those representations and accept new clients in those areas who seek me out. However, the Adelson & Associates, LLC marketing emphasis and the majority of its law practice growth is expected to occur in the representation of CEOs, C-level and senior executive in executive employment, executive equity compensation, retention and separation situations.

It has been our pleasure to serve you over the past 15 years under the firm name Engel & Schultz LLP, and we very much look forward to continuing to serve you under our new shingle, Adelson & Associates, LLC.

If you have a question or comment on my new law firm, please don’t hesitate to call or email Robert Adelson.  Also, if business or pleasure finds you in the Post Office Square area of Boston’s downtown Financial District, and you would like to check out our new offices, please give a call or shoot us an email, and, as Ernie Boch Jr would say, “Come on down!”

Best regards,
Rob Adelson
ROBERT A. ADELSON, ESQ.
Adelson & Associates, LLC / Executive Employment Attorney
101 Federal Street, 19th Floor
Boston, MA 02110
Office: (617) 951-9980 EXT. 205
Mobile :  (617) 875-8665
FAX:  (617) 951-0048
E-mail:  radelson@engelschultz.com
Blog:  https://robadelson.wordpress.com/
Twitter:  @AttorneyAdelson
Webpage : www.executiveemploymentattorney.com
LinkedIn: https://www.linkedin.com/in/robert-adelson-b8a1557/

On September 7, 2019, CEOWorld magazine published an article I wrote on “CFO Employment Contract – Terms and Negotiations” The magazine advised me that I can use “Featured in the CEOWORLD magazine” and the CEOWORLD “Logo” on my website. 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. ​

This article is designed for designed for Chief Financial Officers (CFOs)

• Hired to focus on external financial matters such as fundraising, IPO or company sale, interfacing with the Board of Directors, or

• Hired to focus on internal accounting and finance operations, and

• Who also take on the role of chief operating officer (COO) as well, Chief Operating Officers (COOs) hired to oversee other areas of company operations, including production, marketing and sales, and research and development.

The article covers delineation of responsibilities and resources to do the job, terms to seek in your cash executive compensation package, the various forms of equity to seek depending on the position of the company, terms to include in severance and suggestions on both job offers and re-negotiation of executive contract terms.
To see my full CEOWorld magazine. article, go to my website at
https://www.executiveemploymentattorney.com/cfo-employment-contract-terms-and-negotiations

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 CFOs or CFOs who also take on the COO role with need to review the job offer or employment contract including special circumstances included in the position. If you or any colleague of yours has a need in this area, please do reach out to me at radelson@engelschultz.com.

Executive employment agreements and equity arrangements are the “golden keys” that unlock “golden handcuffs”. Signing bonuses serve as the key to open the door to hiring. Vesting options, bonuses and other “golden handcuff” benefits make executives more reluctant to leave their current position for a new one. However, signing bonuses are often used as a tool of persuasion – urging an executive to sign with a new company. Signing bonuses are crucial when accompanying a job offer that has a lower salary than an executive wants.

CEO, Maria Leone* sought out the counsel of Attorney Robert Adelson who helped her negotiate an increased signing bonus with a new firm that expressed interest in hiring her. Maria Leone was currently working as a CEO at a NY ad agency where she made a comfortable salary with foreseeable bonuses and vesting options, however when a young, rising agency (we will call Marketing X*) expressed interest with a higher salary Maria grew interested. Since the Marketing X was still young, and the salary the company was offering was not substantially higher Maria wanted to explore her options and negotiate her executive contract terms.