Severance Agreements Protect Sought-After Executives

This is an article of mine published  March 27, 2013 on my website at https://www.executiveemploymentattorney.com/articles-section/executive-severance-package/  along with other articles of mine at https://www.executiveemploymentattorney.com/articles-section/

The article indicates how a severance agreement protects executives employed on an at-will or other basis in the event of termination without good cause, and that it is wise to provide for severance terms in an employment agreement or offer sheet at the outset of employment. However, a severance agreement can be made at any time throughout the employment of the executive.

The article further indicates how severance agreements address continuation of salary and  also address other issues that might be very important to the executive including

• Continuation of health and other key benefits,
• Payment of bonus, or prorated bonus
• Vesting and other rights in stock, options or phantom stock of the company
• Protections for the executive’s reputation

Finally, the article also address items the employer may seek including non-competes, releases and waivers and negotiation strategies for executives on such items.

• Are you are an employee or executive reviewing a job offer or employment agreement with or without severance terms and need advice on terms or its enforceability?
• Have you been terminated or face termination and have similar concerns?
• Have you received a severance agreement and need advice on its terms or what to seek in negotiations?

In any of those cases, if  you have questions or need assistance, please email me at radelson@engelschultz.com or call 617-875-8665.

About Executive Employment Attorney Robert Adelson, Esq.

Robert A. Adelson, Esq. has been a corporate, tax and employment attorney since 1977. He graduated Northwestern Law School in Chicago, Law Review, and holds an LL.M. degree in Taxation from NYU. He began as an associate at nationally prominent New York City mega law firms, Dewey Ballantine and Weil Gotshal & Manges. For over 20 years, Adelson has been a partner in small and medium sized Boston law firms, representing CEOs and senior executives on employment, executive compensation, equity and separation matters.

Structuring Bonuses in Your CEO Compensation for Maximum Benefit

Last Tuesday, on May 29, 2018, CEOWorld magazine published an article I wrote on  “Structuring Bonuses in Your CEO Compensation for Maximum Benefit.”  The magazine advised me that I can use “Featured in the CEOWORLD magazine” and the CEOWORLD “Logo” on my website.

This article was designed for CEOs and other C-Suite, VPs or other senior executives who when negotiating a new job offer or employment contract need to give equal and perhaps greater focus on the structure and terms of bonus as they do to base salary compensation.

My article discusses five (5) key bonus structures:

• Sign-on bonus to make the executive whole for items given up,
• Sign-on bonus to compensate for the risks in changing companies,
• Guaranteed bonus,
• Performance bonus based on company achievement,
• Performance bonus based on individual achievement.

The article also suggests other important issues in the determination, calculation and payout of the bonus.

To see my full CEOWorld magazine. article, go to LINK:  http://ceoworld.biz/2018/05/29/structuring-bonuses-in-your-ceo-compensation-for-maximum-benefit/

Or on my website at https://www.executiveemploymentattorney.com/structuring-bonuses-in-your-ceo-compensation-for-maximum-benefit/

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 CEOs and other senior executives who are considering or re-visiting the executive compensation piece of a job offer or employment contract and need to focus on bonus structure and terms every bit as much as base salary. If you or any colleague of yours has a need in this area, please do reach out to me at radelson@engelschultz.com.

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I have represented CEOs and senior executives working for companies in Massachusetts, elsewhere in New England and across the country, and I am available to answer all of your important questions. Contact me, your attorney for executive employment agreements at radelson@engelschultz.com or call 617-875-8665.

Becoming CEO of a Startup — Key Employment Contract, Equity Terms and Other Considerations

Last Tuesday, on April 24, 2018, CEOWorld magazine published an article I wrote on “Becoming CEO of a Startup — Key Employment Contract, Equity Terms and Other Considerations.” The magazine advised me that I can use “Featured in the CEOWORLD magazine” and their “Logo” on your website.

This article was designed for CEOs and other C-Suite, VPs or other senior executives who have achieved a level of success and who are tempted to leave an established company to take on the challenge of leading a startup, either a well-funded startup on the ground floor or an up and coming startup to the next level.

Becoming a startup CEO

My article discusses key employment contract and equity terms, including

• Amount and terms of equity to seek,
• Tax structure of equity if you are joining a ground floor startup,
• Tax structure of equity if you are joining a scale-up startup,
• Special severance terms for startup executive employment contracts.

The articles also suggest other important considerations to include in due diligence and employment contract terms including shared vision, representations as to current financial position and other representations the executive is relying upon to take the position.

To see my full CEOWorld magazine. article, go to LINK: http://ceoworld.biz/2018/04/24/becoming-ceo-of-a-startup-key-employment-contract-and-equity-terms-and-other-considerations/

or my website at https://www.executiveemploymentattorney.com/articles-section/becoming-ceo-of-a-startup-key-employment-contract-and-equity-terms-and-other-considerations/

It is my hope that this article will be helpful to CEOs and other senior executives who are considering joining a funded startup company, whether at the ground floor or in the scale-up stage. If you or any colleague of yours has a need in this area, please do reach out to me at radelson@engelschultz.com.

Consulting Between CEO Positions

Last Tuesday, on March 27, 2018, CEOWorld magazine published an article I wrote on  “Consulting Between CEO Positions”
This article was designed for CEOs and other C-Suite, VPs or other senior executives who have achieved a level of success and now find themselves between executive positions and might want to consider doing some consulting before accepting the next full-time job offer.

My article discusses the advantages consulting offers the CEO and other 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 articles also indicates how low cost it is to begin consulting.  At the end, the article offers half a dozen suggested steps to begin and develop a consultancy if you do want to give it a try.

The article concludes with the suggestion that if you do develop a consultancy you may want to keep it around and offers advice on how you can retain the business you created to co-exist with the full-time position after you accept a job offer for your next full time position.

To see my full CEOWorld magazine. article, go to LINK:  http://ceoworld.biz/2018/03/27/consulting-between-ceo-positions/
Or on my website https://www.executiveemploymentattorney.com/consulting-between-ceo-positions/
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 CEOs and other 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 radelson@engelschultz.com.

Joining a board of directors as an executive can be rewarding

Joining a board of directors as an executive can be rewarding, yet has its pitfalls. Boston executive employment attorney Robert Adelson serves the role of an employment advisor to help executives weigh the costs and benefits of joining a board, as well as negotiates their compensation package. The many benefits of joining a board include but are not limited to lucrative stock and options, networking opportunities and access to a new source of information. However, despite these rewarding benefits, an executive who joins a board takes on a large task – one which, if left unfulfilled can expose them to shareholder lawsuits.

In November of 2013, executive Maxwell Vanderburgh* was asked to serve on a board of directors for an outside company, Mr. Vanderburgh’s C-level executive experience, knowledge and day-to-day management made him the perfect man for the position. When making his decision, Mr. Vanderburgh called on executive employment attorney and advisor Robert Adelson to help him advise the position and negotiate his terms. Attorney Adelson expressed the importance of understanding his rights and duties on the board and potential liabilities he could be exposed to. After Mr. Vanderburgh weighed the pros of cons of this position and realized serving on a board would advance his career and be a rewarding experience the two sat down to negotiate. Upon negotiating Maxwell Vanderburgh’s compensation package, Attorney Adelson implemented proper protections to limit risk exposure and negotiate lucrative stock and options. To ensure protection, Attorney Adelson made sure that there was proper liability insurance in place to protect executive Maxwell Vanderburgh in the event of any suit.

When negotiating the executive’s compensation package, Attorney Adelson explained the responsibilities that must be upheld by a board director; most importantly being a director’s fiduciary duty. This duty is comprised of three separate duties: a duty of care, a duty of loyalty and a duty of candor. In short, these duties require the executive to make informed decisions, act in the interest of the organization it is representing and always provide correct information to shareholders.

Executive employment attorney Robert Adelson was able to help and advise CEO Maxwell Vanderburgh on his decision to become a board director. Attorney Adelson also worked with Mr. Vanderburgh, hands on, throughout the stages of negotiation so Mr. Vanderburgh would receive a compensation package that would be rewarding as well as protect him from any potential suit.

If you or one of your colleagues is a CEO or senior executive who is considering taking on a board of director role, I am glad to assist.  Please do reach out to me at radelson@engelschultz.com.

How to Renegotiate Your CEO Employment Contract When You Have Achieved Success

Last Thursday, on February 1, 2018, CEOWorld magazine published an article I wrote on  “How to Renegotiate Your CEO Employment Contract When You Have Achieved Success.”

This article was designed for CEOs and other C-Suite, VPs or other senior executives who have achieved a level of success and seek a greater share of the benefits his or her leadership has brought to the company, as well as a refresh of the level of incentives as he or she takes the company to the next level.

My article discusses why the Board would agree to sweeten the package for the CEO (or other senior executive), including these reasons:

• Fear of losing a successful executive,
• Costs of recruiting a replacement,
• Disruption to a successful team,
• Uncertainty of how a successor would work out,
• Loss of momentum as the company goes through a new transition, and
• Loss of promise of where the CEO might take the company if allowed to build on his or her success.

The article then suggests key items to seek in negotiations, and offers suggestions on negotiation strategy to improve chances for a successful outcome.

Among the strategies suggested are to plan and develop a back-up to enhance your bargaining position and also for possible use if negotiations don’t succeed, and finally use of an “ace in the hole” to achieve success.

To see my full CEOWorld magazine. article, go to LINK:  http://ceoworld.biz/2018/02/01/how-to-renegotiate-your-ceo-employment-contract-when-you-have-achieved-success/

or my website at https://www.executiveemploymentattorney.com/articles-section/how-to-renegotiate-your-ceo-employment-contract-when-you-have-achieved-success/

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 CEOs and other senior executives who have achieved a level of success on the job and deserve and would like to seek a share of the benefits their success has conferred to owners and shareholders and refresh of incentives as they seek to take the company to the next level.   If you or any colleague of yours has a need for advice in this area, please do reach out to me, executive employment lawyer, Robert Adelson, Esq. at radelson@engelschultz.com.

Interim CEO and Turnaround CEO Employment Agreements: Terms and Compensation

On October 26, 2017, CEOWorld magazine published an article I wrote on “Interim CEO and Turnaround CEO Employment Agreements: Terms and Compensation.”

This article was designed for executives, who have been offered, are seeking or are now considering taking Interim CEO or Turnaround CEO positions.

The Interim CEO may be one of the following:

• company insider from the Board or current executive suit or a current consultant to the Company, as Interim CEO, chosen in part for familiarity with the company and essentially to be a placeholder until the new CEO can take up his or her duties
• executive outside the company recruited to fill that role, someone with a name in the field to maintain the position of the company in the eyes of analysts and investors until the search for a new CEO is completed and the replacement installed
• an executive hired or recruited not just as a placeholder but as a true Turnaround CEO, who is being brought in to “right the ship” when a company is in turmoil, unprofitable or otherwise not performing to the desired level.

This article discusses the different roles each would play as Interim CEO or Turnaround CEO and the different terms each should seek in employment, compensation, severance, equity, disclosure and indemnification from the company that needs their services.

To see my full CEOWorld magazine article, go to LINK: http://ceoworld.biz/2017/10/26/interim-ceo-and-turnaround-ceo-employment-agreements-terms-and-compensation/

or my website https://www.executiveemploymentattorney.com/interim-ceo-and-turnaround-ceo-employment-agreements-terms-and-compensation/

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 senior executives who are navigating the shoals of noncompete, nonsolicitation agreements and going into a new position or change of control. If you or any colleague of yours has a need in this area, please do reach out to me at radelson@engelschultz.com or 617–875–8665.