Three weeks ago, on Friday January 19, 2024, the executive career advancement website IvyExec published an article I wrote,  “Can Executives Get Severance Pay When They Resign?”.   

This article was designed for C-level and senior executives who have achieved a level of success and who for reasons beyond their control want to quit their current position and ought to be able to get appropriate executive severance compensation in connection with their separation.

My article takes up each of these important topics:

• Circumstances when you want to quit
• Issues governing severance when you quit your position
• Key contract terms:  Termination for Good Reason in your Executive Job Offer
• Circumstances of Constructive Discharge
• Severance rights and compensation to seek for in Constructive Discharge
• Getting what you deserve if you terminate your position

To see my full article, go to LINK:   https://ivyexec.com/career-advice/2024/can-executives-get-severance-pay-when-they-resign

or my website, go to LINK:   https://www.executiveemploymentattorney.com/can-executives-get-severance-pay-when-they-resign/

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/
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IvyExec claims a “Community of 2.5M+ Leaders”.  See also – https://www.ivyexec.com/
It is my hope this article will be helpful to senior executives who are considering quitting their current position or feel they are now being forced out, and deserve severance and the change to start anew while keeping their careers on the upward trajectory.  If you or any colleague of yours has a need in this area, please do reach out to me at [email protected] or call me @ 617-875-8665.

Three weeks ago, on Thursday December 21, 2023, the executive career advancement website IvyExec published an article I wrote on “Starting an Executive Consulting Business during your Transition”.   

This article was designed for senior executives who have achieved a level of success and now find themselves in transition, that is, between executive positions, and might want to consider doing some consulting before accepting the next full-time job offer.

My article discusses the advantages that providing executive consulting services can offer to senior executives between positions, including the following:

• Adding to your knowledge, experience and skill set,
• Aiding and encouraging you to stay current in your field,
• Expanding deal flow for new CEO and senior executive positions and business opportunities,
• Lengthening your financial runway with money coming in so you don’t have to take the first position offered,
• Enhancing your bargaining position when you find a position you like.

The second part of my article offers three suggested steps to begin and develop a consultancy if you do want to give it a try.  The first of those steps discusses how low cost it is to begin consulting, and suggests formation of a protective and also efficient business entity for this purpose.

The article concludes with advice that retaining your consulting business can continue side by side with a new fulltime position once your transition is completed.   The suggestion I make to you is that if you do develop a consultancy you may want to keep it around to retain the business you created and to potentially return to it for future transitions and as a potential source for new opportunities you might consider to continue to advance your career.

To see my full article, go to LINK:   https://ivyexec.com/career-advice/2023/starting-an-executive-consulting-business-during-your-transition
or my website, go to LINK:   https://www.executiveemploymentattorney.com/starting-an-executive-consulting-business-during-your-transition/

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/
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It is my hope that this article will be helpful to senior executives who are in between full-time permanent positions and might want to giving consulting a try during that interim period.  If you or any colleague of yours has a need in this area, please do reach out to me, your executive employment lawyer, at 617-875-8665 or  [email protected].

Two weeks ago, on Wednesday October 25, 2023, the executive career advancement website IvyExec published an article I wrote on “Key Terms to Negotiate in your next Executive Job Offer”.

When you receive a job offer letter, how do you evaluate it? Do you accept the terms “as is” or do you negotiate? You do a great job negotiating deals for your company but do you always do as well when representing yourself?

This article explores the situations in which you negotiate the employment job offer, the terms you should focus on and their ramifications, and how an executive employment agreement attorney can help you.

Often CEO and senior executive recruits have considerable bargaining power. The employer wants and needs you. You may never be in a better position to negotiate further than you are at the moment of the job offer.

Assuming you get the salary and target bonus you are looking, there is still an awful lot on the table. Many of these items may be far more important than salary, including these key items fully discussed in my article:

• Signing Bonus
• Equity terms
• Equity Structure / Taxation
• Relocation
• Reliance
• Severance terms

Even if this is your only job offer, one at you must take, these terms are just too important to accept them “as is” without at least some effort to structure terms that don’t change the essential deal but still offer you important protections.

Sometimes just a word here or there, or an extra clause added by a skilled attorney can make an enormous change for you in realizing the benefit of your bargain or enabling you to leave a difficult situation you did not anticipate.

To see my full article, go to LINK: https://ivyexec.com/career-advice/2023/key-terms-to-negotiate-in-your-next-executive-job-offer

or my website, go to LINK: https://www.executiveemploymentattorney.com/key-terms-to-negotiate-in-your-next-executive-job-offer/

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/
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If you or one of your colleagues is a CEO or senior executive who has received or expects to receive a new job offer, I am glad to assist. Please do reach out to me at 617–875–8665 or [email protected]

How to negotiate your own Change of Control acceleration terms

A bit over two weeks ago, on Friday September 15, 2023, CEOWorld magazine published an article I wrote on “-Fighting the Double Trigger as free labor vs slavery: How to negotiate your own Change of Control acceleration terms..”

The new article is designed for CEOs and C-level executives, who work hard to bring a successful liquidity event, such as in a merger/acquisition, but also face significant risks with a change in control including getting laid off, reduction in compensation and benefits, changes in reporting structure, restrictions in seeking new employment due to non-compete or non-disclosure agreements. Those risks are often offset by the prospect of equity acceleration or a sale closing bonus. But even here there are still more risks. that can diminish or even prevent your receiving the benefits and your fair share of the success event which may be largely the result of your efforts.

This article discusses those additional hurdles placed before you to achieve benefit from a change of control often called the “Double Trigger.” A single trigger would accelerate your equity or pay you your full bonus on closing the change of control/ success event. The double trigger creates a second condition to your change of control /success benefits, that second condition being some level of additional required services over an extended period of time to the acquirer successor. The down-side of the Double Trigger to the C-level executive includes the following:

• Loss of your leverage to negotiate your own retention bonus and full employment, equity and executive compensation terms with the successor.
• Loss of your ability before and after the sale event to freely pursue and negotiate other career opportunities,
• Loss of your ability to immediately move on — to time your new start date and take up your new position right after the closing
• Loss of your chance to share in the liquidity event at the same time the investors receive their benefits from your efforts
• Potential loss of your entire acceleration or bonus you under the second trigger despite having already earned those benefits with the closing of the change of control

At the end, this article suggests a series of strategies for you to resist the Double Trigger, culminating with an invocation of Lincolnian and early Republican arguments from 19th century US history: Free labor vs Enslaved labor. Hence, this article’s title.

The article quotes this portion from the famous Lincoln -Douglas debates –

It is the eternal struggle between these two principles — right and wrong — throughout the world. They are the two principles that have stood face to face from the beginning of time; and will ever continue to struggle. The one is the common right of humanity and the other the divine right of kings. It is the same principle in whatever shape it develops itself. It is the same spirit that says, “You work and toil and earn bread, and I’ll eat it.” No matter in what shape it comes, whether from the mouth of a king who seeks to bestride the people of his own nation and live by the fruit of their labor, or from one race of men as an apology for enslaving another race, it is the same tyrannical principle. “

Abraham Lincoln, at Alton, Illinois, October 15, 1858 https://teachingamericanhistory.org/document/the-lincoln-douglas-debates-7th-debate-part-ii/

https://www.c-span.org/video/?59826-1/lincoln-douglas-alton-debate — at 1:58:11 in this 2 hour 39 minute video.

With the Double Trigger in place, the C-level executive, on many occasions, works, toils and earns the liquidity / change of control event, and often it is only the investors who “…eat it.” — that is, reap the benefit. It is often the case too, that investors enhance that profit, receiving a premium from the acquirer because Double Trigger sale terms effectively delivers you and your full-time services to the successor delaying and perhaps ultimately depriving you of your share of the success event you already earned. True, it is not slavery, but it is still a form of what Lincoln would have called the “theft of labor”.

To see my full CEOWORLD magazine. article, go to LINK: https://ceoworld.biz/2023/09/16/fighting-the-double-trigger-as-free-labor-vs-slavery-how-to-negotiate-your-own-change-of-control-acceleration-terms/

Or on my website at https://www.executiveemploymentattorney.com/fighting-the-double-trigger-as-free-labor-vs-slavery-how-to-negotiate-your-own-change-of-control-acceleration-terms/

This was my 43rd article published in CEOWORLD since 2016. Previously, the editor advised that I can use “Featured in the CEOWORLD magazine” and the CEOWORLD “Logo” on my website and add CEOWORLD magazine in my LinkedIn profile’s “Experience Section” as an “Opinion Columnist.” and authority in the field.

On its own initiative, CEOWORLD magazine created on their website a library of Robert Adelson published articles. You can peruse this library and/or read as many of my 43 published articles as you wish. See https://ceoworld.biz/author/robert-adelson/

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/

It is my hope that this article will be of benefit to CEOs, C-level and senior executives who are being hired for or are now working toward an acquisition or exit event, that would result in a change of control sought by investors. The article may offer special benefit if you are expecting acceleration, a bonus or other benefits as result of the success in securing the event and may want to review and potentially challenge Double Trigger terms that can shackle you and potentially cause loss of your share of the benefits you earned on closing of the success event. If you or any colleague of yours has a need in this area, please do reach out to me @ 617–875–8665 or [email protected].

Figuring out your niche — and what you can charge for it — is an essential first step for intrepid fractional CFOs, experts say.

Three weeks ago, on Wednesday August 16, 2023, CFO Drive magazine published a “Deep Dive” article  “Three key steps to the fractional CFO seat:  Figuring out your niche — and what you can charge for it — is an essential first step for intrepid fractional CFOs, experts say”.

This article was by veteran business magazine reporter Grace Noto, who earlier reached out to interview me on her subject.

This CFO Drive article begins as follows:
It’s the era of the part-time CFO: the financial leader who works flexible hours putting their unique skill sets to use at multiple businesses. As opportunities for this type of work expand, however, finance leaders who want to make the jump to fractional CFO work need to ensure they are covering all their bases.

A key step before taking on such a role is “knowing what it is that you bring to the table and what your specialty is,” said Michelle Delker, founder of The William Stanley CFO Group, a Wesley Chapel, Florida-based boutique fractional CFO and financial services firm.

Find your niche 
While some might think of CFOs as one-size-fits-all, that’s far from the case, with each leader bringing a unique background and experience to the job — Delker likened it to choosing restaurants, where two might serve the same type of cuisine such as Japanese or Italian fare, but specialize in different regions or cooking styles.

In the last segment of this CFO Drive article, entitled “Read the fine print”, the author quotes me on the importance of a full and reasonably comprehensive contract between the contracting CFO and the company that he or she is to serve on an interim or part-time basis.

One of these key points is to clearly delineate your duties, responsibilities and authority.  There should also be indemnity protection for your vulnerabilities.

I was also quoted on potential special compensation opportunities from the interim, part-time or fractional position relationship.  This might come from a special executive bonus tailored to the special strengths that you as the “hired gun” bring to the company.

My quoted comments also suggested creation of your own separate legal entity, typically a limited liability company (LLC), to seek out and take on part-time assignments.   This might also give rise to a marketing opportunity by choosing a distinctive tradename to brand your LLC raising visibility in your field.

To see Grace Noto’s full article in CFO Drive, go to LINK:  
Three key steps to the fractional CFO seat | CFO Dive

In addition to this fine recent article, I also offer for consideration two articles I wrote on related subjects, published earlier by CEOWORLD magazine, that you also might find of interest.

1. This article of mine, published by CEOWORLD in 2017, discusses issues to consider when taking on interim or part-time C-level job opportunities:
Interim CEO & Turnaround CEO Employment Agreements | Attorney Robert Adelson

2. This article of mine, published by CEOWORLD in 2018, discusses issues to consider when creating a consulting business including an LLC to take on interim and fractional assignments between full-time CEO, CFO or other C-level positions:
Consulting Between CEO Positions | Executive Consulting | Attorney Robert Adelson

It is my hope that this recent CFO Drive article, as well as my two earlier articles published in CEOWORLD, all with links above, will be of benefit.  If you or a colleague is considering taking on an interim, part-time or fractional position as CFO, CEO or other C-level position, and you have questions on contract terms, compensation, liability or other issues,   please do reach out to me at [email protected] or call 617-875-8665.