COO Contract and Compensation Package — Terms and Negotiations

 On Monday July 1, 2024, the executive career advancement website IvyExec published an article I wrote, “COO Contract and Compensation Package — Terms and Negotiations.”

This article was designed for senior executives, who have been offered, are seeking or are now considering taking the role of Chief Operating Officer (COO). As COO, you are normally hired to oversee all areas of company operations, including production, marketing and sales, and research and development. My article also recognizes that a COO can also be hired for further specific missions including any of the following:

• To fill a specific need in an operational area or line of business, e.g. to turnaround a failing operation,
• To expand company operations into a new market,
• To fill a gap in the CEO’s knowledge, expertise, skills, management style or experience, and thus complement the CEO,
• To meet the company need for succession planning when the CEO is about to retire where the Board wants to hire a COO to prepare him or her to be the successor CEO,
• Conversely, to hire the COO to mentor a first-time founder-CEO where the COO would likely be an industry veteran with wisdom and a business relationship network who can develop both the CEO and assist the scale up of the company to the next level or to achieve a liquidity event, or
• To hire the COO to mentor an inexperienced family-member CEO to aid that family member to grow into the job and responsibilities expected of him or her.

My article discusses delineation of your duties, responsibilities, authority and reporting and including in those special circumstances listed above. My article also offers suggestions for your COO offer letter or employment contract to include key executive employment terms on which you rely to take the job.

My article next discusses what to seek in getting the right COO Executive Compensation Package, and concludes with a discussion of severance rights to enable you to protect the terms of your bargain reached with the company.

To see my full article, go to LINK: https://ivyexec.com/career-advice/2024/coo-contract-and-compensation-package-terms-and-negotiations

or my website, go to LINK: https://www.executiveemploymentattorney.com/coo-contract-and-compensation-package-terms-and-negotiations/

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 this article will be helpful to senior executives who are seeking, considering or reviewing an offer to take a Chief Operating Officer position with your current company or a new company. If you or any colleague of yours has a need in this area, please do reach out to me at rob@attorneyadelson.com or call me @ 617–875–8665.

Executive Employment Agreement – An Overview for the Newly-Minted CEO or C-Suite Executive

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:

• What is an executive employment agreement?
• Why is this agreement important to the company?
• Why is this agreement important to you?
• What are the key terms and conditions that you should focus on?
• How do you achieve success in negotiating these executive contract terms?

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:

• Position, duties and authority,
• Executive compensation and bonus structure,
• Tax-favored executive equity and/or LTIs,
• Severance terms and triggers,
• Noncompete and other restrictive covenants.

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 rob@attorneyadelson.com.

Author: Robert Adelson

Robert 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.