Executive Contract Negotiations for Life Sciences Executives

On Wednesday October 9, 2024, the executive career advancement website IvyExec published an article I wrote, “Executive Contract Negotiations for Life Sciences Executives.

This article was designed for CEOs and other C-Suite, VPs or other senior executives in Medical Device, Biotechnology and other life science companies who, when negotiating a new job offer or employment contract or terms of executive compensation, need to give attention to essential employment terms in these fast growing and changing industries.

My article indicates how in these negotiations, the executive should seek key executive employment terms in the following important areas:

• Signing bonus to at least make you whole for anything you are giving up,
• Performance targets geared to your type and stage of life science company and its exit goals,
• Equity in scope and form matched to your position, stage of company and potential tax issues
• Relocation and other expenses (e.g. maintaining your M.D. license) again to keep you whole when you change companies.

The article also discusses executive severance terms and triggers for your protection in case changes necessitate you to change companies in the future.

To see my full article, go to LINK: https://ivyexec.com/career-advice/2024/executive-contract-negotiations-for-life-sciences-executives

or my website, go to LINK: https://www.executiveemploymentattorney.com/executive-contract-negotiations-for-life-sciences-executives/

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 that this article will be helpful to CEOs and other senior executives in the medical device, biotechnology or other life science industries who are negotiating new executive job offers, employment contracts or executive compensation packages and should pay attention to the essential contract terms discussed in my article.

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 617–875–8665.

Keeping and Using Your Ace in the Hole in Negotiating Your C-level Executive Contract

 On Friday August 30, 2024, CEOWORLD magazine published an article I wrote titled, “Keeping and Using Your Ace in the Hole in Negotiating Your C-level Executive Contract.”

The new article is designed for CEOs, C-level and senior executives and those executives  who aspire to the C-suite.  This article discusses how, based on my experience representing C-suite executives, that by holding back a little – keeping an ace in the hole, as they say – you will create a sense of anticipation, increase your value in the eyes of the company, and ultimately enhance chances of achieving your desired executive contract terms.

The article goes on to discuss how we’ve applied this strategy of ascertaining and then using this “Ace in the Whole” strategy in three different types of executing contracting situations –

• Job Offer / Employment Agreement  – For example, you might outline a new approach to optimizing operational efficiency or a plan to expand into new markets. However, make it clear that these strategies are just the beginning. Let the company know that you have other strategies and ideas in your pocket, that could be deployed for the benefit of the company, if you are hired and take the position.

• Termination / Separation Agreement – in severance negotiations, part of your leverage would come from release potential claims, but other leverage may come from your knowledge, experience and contacts, and your potential use to the company in post-termination paid transition services and consulting. Here you might suggest three particular assignments for yourself that address particular gaps created by your separation…. But again not telling, even suggesting you envision several other impactful assignments, not to be discussed unless and until the company commits to reasonable severance terms.   

• Independent Consulting / Consulting between positions –  In this further application of the “Ace in the Hole” strategy, you may hold back on consulting for others and particular needs and requests, until after you’ve established yourself with the company with whom you’ve started consulting, and you could also hold off on moving to a fulltime C-level position (if offered) until the company reaches terms you seek.

I am a fan of Country Music.  So, both this executive contract strategy and the impetus to write this article drew inspiration from the great song by the Country Music singer, the legendary George Strait and  his song ,  “Ace in the Hole”.  The lyrics –

You’ve got to have an ace in the hole

A little secret that nobody knows

Life is a gamble, a game we all play

But you need to save something for a rainy day

You’ve got to learn to play your cards right

If you expect to win in life

Don’t put it all on the line for just one roll

You’ve got to have an ace in the hole

If you’re headed down a one way street

And you’re not sure it’s the way you wanna go

In money or love or all the above

Have a little more than what you show

When life deals out a surprise

Have a few surprises of your own

No matter what you do, no matter where you go

You’ve got to have an ace in the hole

Source for lyrics:  https://genius.com/George-strait-ace-in-the-hole-lyrics 

Video:   https://www.youtube.com/watch?v=eK854RfHFAc

To see my full CEOWORLD magazine. article, go to LINK: https://ceoworld.biz/2024/08/30/keeping-and-using-your-ace-in-the-hole-in-negotiating-your-c-level-executive-contract/

Or on my website at  https://www.executiveemploymentattorney.com/keeping-and-using-your-ace-in-the-hole-in-negotiating-your-c-level-executive-contract/

This was my 47th  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 44 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 this new article will be beneficial to CEOs, C-level executives, VPs and other senior executives and those aspire to C-suite positions to use this “Ace-in-the-Hole” strategy in your own negotiations over important executive contracts in the course of your career.

If you or any colleague of yours has a need in this area, please do reach out to me –  rob@attorneyadelson.com or call 617-875-8665.

Key Terms to Negotiate in Your Next Executive Job Offer

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/
​

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 rob@attorneyadelson.com 

How to Manage Multiple C-Level Executive Job Offers

On Friday November 4, 2022, CEOWorld magazine published an article I wrote on “How to Manage Multiple C-Level Executive Job Offers”

This new article is designed for CEOs,  CFOs, COOs, and other C-level and senior executives, who currently have or expect to soon have multiple job offers, each job offer presenting an attractive opportunity, and where you as C-level executive, seek guidance of how to manage these offers for best effect financially, and for your families and your career.

This article discusses the art of managing multiple executive job offers to get the best results for yourself, including

• How to evaluate multiple job offers, 
• How to manage the process and in doing so manage expectations of the parties, 
• What executive contract terms to seek from each company,
• How to negotiate for the best terms from those available and still position yourself well for future opportunities,
• How to navigate this process while maintaining your current position. 

Finally, the article discusses planning your exit to do so on good terms that enhance your reputation.

To see my full CEOWORLD magazine. article, go to LINK: https://ceoworld.biz/2022/11/04/how-to-manage-multiple-c-level-executive-job-offers/

Or on my website at https://www.executiveemploymentattorney.com/how-to-manage-multiple-c-level-executive-job-offers/

This was my 39th 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 39 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 to offer them insights and guidance to make the most of the opportunity when you are being courted and …more than one suitor company is vying for your services for you to accept their job offer for next executive position.

Feel free to tweet or share this article. If you or any colleague of yours has a need in this area, please do reach out to me @ 617-875-8665 or rob@attorneyadelson.com.

Duty of “Good Faith and Fair Dealing” Ensures Your Executive Compensation is not Taken Away from You

 On September 2, 2021, CEOWorld magazine published an article I wrote on “Duty of “Good Faith and Fair Dealing” Ensures Your Executive Compensation is not Taken Away from You”.

This new article is designed for CEOs, C-level and senior executives, who at some point face employment termination for no good reason when you are close to making a big score for what you have achieved for the company.

My article discusses an important duty or implied covenant in the law that provides that even if you are an employee “at will”, with no contractual rights, you might still have a valid enforceable claim against your employer to be made whole — to be paid what you are due. The article discusses landmark state Supreme Court cases from three different states around the USA where plaintiffs have been made whole because of the defendant’s breach of the duty of “Good Faith and Fair Dealing”. In doing so, courts consider where the plaintiff suffered harm because he or she was prevented from receiving the benefits of their agreement, including these bad faith actions by a defendant:

• Preventing the other party from performing its obligations,
• Engaging in schemes to deprive the other party of its right to benefits or withholding contractual benefits,
• Seeking to obtain benefits prohibited by contract,
• Having no intent to complete a contract or engaging in a contract that is unreasonable or deceitful.

My article concludes with discussion of two of my recent client representations of senior executives from two different states and different industries, where the executives did all that was expected of them from the time of their hiring, and, in doing so, made important contributions to their companies but were, in the end, prevented from realizing the benefits they had bargained for and earned, and thus how each had claims under this duty or doctrine of Good Faith and Fair Dealing.

To see my full CEOWorld magazine. article, go to LINK: https://ceoworld.biz/2021/09/02/duty-of-good-faith-and-fair-dealing-ensures-your-executive-compensation-is-not-taken-away-from-you/

Or https://www.executiveemploymentattorney.com/duty-of-good-faith-and-fair-dealing-ensures-your-executive-compensation-is-not-taken-away-from-you/

This was my 35th 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 34 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.

CEOWORLD magazine | LinkedIn

CEOWORLD magazine | 6,584 followers on LinkedIn. World's leading magazine for CEOs, CFOs, investors, senior executives…

www.linkedin.com

It is my hope that this article will be of benefit to CEOs, C-level and senior executives who, at some point in your career, might be at the point of receiving a major benefit in executive compensation, equity vesting or payout, only to be deprived or threatened with loss of that benefit earned, by employment termination without cause or reason or other arbitrary act by the employer. The goal of this article is to let you know that if that happens to you or a colleague of yours, there may be a basis to seek redress for your loss or potential loss. Feel free to share this article. If you or any colleague of yours has a need in this area, please do reach out to me.

Executive Contract Terms to Negotiate with Your Prospective Employer

On Tuesday June 22, 2021, the website Ivy Exec published under “Career Advice” an article I wrote on “Executive Contract Terms to Negotiate with Your Prospective Employer”.

 

This new article is designed for CEOs, C-level and senior executives, who are sometimes neglectful of their own interests and might be tempted to accept the assurance from a prospective employer that the job offer terms are just standard.  But executive contract terms are not standard.

My article discusses critical contract terms that, as a senior executive, you should consider negotiable to assure you are receiving fair financial treatment and to provide important protections to your career path and reputation.  I suggest negotiation strategies for key contract terms including: 

• Signing Bonus – to make you whole for what you are giving up from your job and also compensate you for the risks you are taking going into a new situation where you will have to prove yourself yet again,

• Meaningful Equity – giving you a stake in the company sufficient in size and upside potential to justify the move.

• Tax-favored Equity – with my structuring suggestions to maximize your take-home pay.

• Restrictive covenants – NDAs limited to not bar you from future utilization of  your prior knowledge and connections, Non-competes limited so no significant detour is created to the expected path for your future career growth,

• Severance triggers – to allow you to quit for good reason if the company fails to live up to promises you relied on accepting the offer;  

• Robust severance terms – with not only severance pay but continuation of health benefits, prorated bonus and equity acceleration.

My article then concludes with a discussion of other non-contract factors that go into the decision to accept a job offer such as compatibility with company, fit of skills and personality, and your belief in company prospects.  

But remember, even where you see a good fit going in, things can change: so, having a good contract is an important protection against your champion leaving or other unforeseen developments.

To see my full article, as published in the “Career Advice” section of the Ivy Exec website, go to LINK: https://www.ivyexec.com/career-advice/2021/executive-contract-terms-to-negotiate-with-your-prospective-employer/

 Or on my website at https://www.executiveemploymentattorney.com/articles-section/executive-contract-terms/

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/

It is my hope that this article will be of benefit to CEOs, C-level and senior executives who are contemplating a new job offer or employment contract and want to assure the key need financial terms and career protections are in place.  This article suggests to you what is negotiable and that it may be wise to seek these items even when you feel confident the job is a good fit for you.  Because sometimes, your champion may leave or other things might happen – so that, at that point, it might be comforting to you to know you have in writing critical contractual protections.

So, my hope is that this article will offer insights on these important matters. Feel free to tweet or share this article. If you or any colleague of yours has a need in this area, please do reach out to me.

Using Career Advancement Covenants to Safeguard Non-Financial Executive Pay

Last month, on May 26, 2021, CEOWorld magazine published an article I wrote on “Using Career Advancement Covenants to Safeguard Non-Financial Executive Pay”.

This new article is designed for CEOs, C-level and senior executives, who, on occasion, may accept less in salary, bonus and equity in favor of non-financial compensation that is sometimes more important. Some of the examples of such non-financial compensation listed in the my article are:

• Assignments in a new field where you have little prior experience,
• Face time with valued contacts,
• Exposure for your work, showcasing your skills in your industry,
• Basing your work in a desired location,
• Access to technology or markets, back license of technology.

The article then highlights two examples of C-level and senior executive clients of mine, who in recent representations chose non-financial compensation to advance their careers, building their resumes for future rewards, the first becoming CFO and Chief Accounting Officer for a company to go public, the other for my client to become a first time CEO.

Finally, my article discusses how, in each case, special covenants and agreement terms were included and are mentioned in my article to assure my clients that either they got the experience or resume value they were seeking or could resign for good reason and trigger severance.

To see my full CEOWorld magazine. article, go to LINK: https://ceoworld.biz/2021/05/26/using-career-advancement-covenants-to-safeguard-non-financial-executive-pay/

Or on my website at https://www.executiveemploymentattorney.com/using-career-advancement-covenants-to-safeguard-non-financial-executive-pay/

This was my 34th 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, CEOWOLRD magazine created on their website a library of Robert Adelson published articles. You can peruse this library and/or read as many of my 34 published articles as you wish. See https://ceoworld.biz/author/robert-adelson/

It is my hope that this article will be of benefit to CEOs, C-level and senior executives who at some point in their career might be considering an opportunity to advance their career that might involve financial sacrifice or other risks and may want to consider review of their executive employment contract to give the best assurance of gaining those career for which a price will be paid. So, my hope is that this article will offer insights on these important matters. Feel free to tweet or share this article. If you or any colleague of yours has a need in this area, please do reach out to me at rob@attorneyadelson.com.