Robert Adelson, Esq. - Boston Executive Employment Lawyer: COO employment agreement

Showing posts with label COO employment agreement. Show all posts

Thursday, July 11, 2024

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 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.

Sunday, May 3, 2020

Has a New Employer Withdrawn Your Executive Job Offer? How “Promissory Estoppel” can give you a legal remedy

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/

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/

Tweeting My new CEOWorld article on “Has a New Employer Withdrawn Your Executive Job Offer? How “Promissory Estoppel” can give you a legal remedy”

If you tweet and would like to Tweet my article, here is my three (3) tweets to retweet or to use in your own tweet –

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.

Tuesday, June 18, 2019

Negotiating Your COO Employment Agreement

On May 28, 2019, CEOWorld magazine published an article I wrote on “Negotiating Your COO Employment Agreement” The magazine advised me that I can use “Featured in the CEOWOLRD magazine” and the CEOWORLD “Logo” on my website.
This article is designed for Chief Operating Officers (COOs) 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 CEOWorld magazine. article, go to LINK: https://ceoworld.biz/2019/05/28/negotiating-your-coo-employment-agreement/
Or my website at https://www.executiveemploymentattorney.com/negotiating-your-coo-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.

With the editor’s email to me of May 28, 2019, advising me of publication, I was also advised that I can add CEOWORLD magazine in my LinkedIn profile’s “Experience Section” as an “Opinion Columnist.” See https://ceoworld.biz/author/robert-adelson/

It is my hope that this article will be helpful to senior executives in technology, life sciences and other fields and industries, who are being recruited and have now, or anticipate soon receiving, an attractive offer to serve as COO, the chief operating officer with need to review the job offer or executive 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.

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Thursday, July 11, 2024

COO Contract and Compensation Package — Terms and Negotiations

Sunday, May 3, 2020

Has a New Employer Withdrawn Your Executive Job Offer? How “Promissory Estoppel” can give you a legal remedy

Tweeting My new CEOWorld article on “Has a New Employer Withdrawn Your Executive Job Offer? How “Promissory Estoppel” can give you a legal remedy”

Has a New Employer Withdrawn Your Executive Job Offer? How “Promissory Estoppel” might give you a...

Has a New Employer Withdrawn Your Executive Job Offer? How “Promissory Estoppel” might give you a...

Has a New Employer Withdrawn Your Executive Job Offer? How “Promissory Estoppel” might give you a...

Tuesday, June 18, 2019

Negotiating Your COO Employment Agreement