Triggering Executive Severance to Protect Your Interests in Case of COVID-19 or Other Changed Circumstances

Six days ago, on May 27, 2020, CEOWorld magazine published an article I wrote on Triggering Executive Severance to Protect Your Interests in Case of COVID-19 or other Changed Circumstances”.  The magazine advised me that I can use “Featured in the CEOWORLD magazine” and the CEOWORLD “Logo” on my website.

CEOworld Magazine logo

This was my 28th 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 May 27th, is designed for CEOs, C-level and senior executives, especially those who, once on the job, may find that their chances for success become daunting because changed circumstances beyond their control.  For many such executives, the severe economic downturn arising in connection with the COVID-19/coronavirus crisis may cause great reductions in expected base, bonus, equity and LTI compensation and reduced duties and responsibilities as well.

However, the article is not limited to COVID-19.  The article also discusses other circumstances where clients of the author have also experienced such negative effects, as result of dashed expectations, including where the executive accepted his or her job offer for a CEO, C-level or other senior executive position in reliance on any of these company actions:

  • Keeping a major customer account,
  • Retaining the services of a key man or woman executive,
  • Keeping or achieving regulatory approval,
  • Keeping or retaining a key source of funding,
  • Company possessing the positive financial position represented to you, a position on which you can build for growth.

The article then concludes with proactive steps the executive can take in your executive employment and job offer negotiations to protect yourself in the event of such changed circumstances in the future.  This includes the crafting of severance terms with triggers tailored to your situation in the event of dashed expectations. Thus, the executive would have an executive contract that provides that if circumstances change, such that the job is no longer what you bargained for, you can move on to a new opportunity and still be made whole as you do so.

To see my full CEOWorld magazine. article, go to LINK:

https://ceoworld.biz/2020/05/27/triggering-executive-severance-to-protect-your-interests-in-case-of-covid-19-or-other-changed-circumstances/

Or on my website at https://www.executiveemploymentattorney.com/triggering-executive-severance-to-protect-your-interests-in-changed-circumstances/

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/

Tweeting My new CEOWorld article on “Triggering Executive Severance to Protect Your Interests in Case of COVID-19 or other Changed Circumstances”

If you tweet and would like to tweet my article, here is my four (4) 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 in job offer negotiations to CEOs, COOs, CMOs, other C-Level and senior executives who are considering a new executive position or giving up other opportunities, and, acting in reliance on the promises made by the employer, and seek protection against potential changed circumstances, whether from a pandemic, loss of a key customer, loss of key personnel, a negative regulatory ruling, loss of financing  or otherwise, so the executive can if that happens move and be made whole. If you or any colleague of yours has a need in this area, please do reach out to me at rob@attorneyadelson.com.

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.

CEOworld Magazine logo

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:

  • 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/

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/

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.

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.

CEOworld Magazine logo

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:

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:

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/

Tweeting My new CEOWorld article on “Executive Employment Agreement – An Overview for the Newly-Minted CEO or C-Suite Executive”

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 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.

Layoff, Furlough or Other Employee Cut Backs: Legal Issues as your Company Responds to Dramatic Loss of Business

This is an article of mine published last week, on March 30, 2020, by CEO Refresher magazine.  My article is currently featured on the first page of the magazine website – http://www.refresher.com/

This article of mine comes out of advice I have given to small company clients of mine who are currently responding to dramatic declines in their business revenues as result to the COVID-19 / coronavirus pandemic and its effects on the US economy.

This article discusses current employment law in Massachusetts and other states as well as legal issues regarding the following company approaches to reducing labor costs to cut company losses as result of the huge decline in business revenues, including

  • Layoffs,
  • Furloughs,
  • Change in employees from full-time to part-time,
  • Change of employees from salaried to hourly.
  • Use of the state WorkShare program

The article concludes with a brief discussion of three Federal statutes that became law in March 2020, to deal with different public health, financial and economic effects pf the pandemic crisis.  Those three new Federal laws are the following:

  • Coronavirus Preparedness and Response Act (became law on March 6, 2020), appropriated $8.3 billion to spur coronavirus vaccine research and development.
  • Families First Coronavirus Response Act (became law on March 18, 2020)(“FFCR”), an approximately $104 billion package largely focused on paid sick leave and unemployment benefits for workers and families.
  • Coronavirus Aid, Relief, and Economic Security Act (became law on March 27, 2020) (the “CARES Act”), the $2.2 trillion coronavirus stimulus package to address the economic fallout from the pandemic.

To read more, go to this LINK  https://www.refresher.com/layoff-furlough-or-other-employee-cut-backs/

Or on my website at https://www.executiveemploymentattorney.com/layoff-furlough-or-other-employee-cut-backs/

Update to March 31 Article:  Limited State Unemployment Benefits allowed in connection Furloughs due to COVID-19 Pandemic 

New Massachusetts emergency regulations now allow limited eligibility for state unemployment benefits in connection with a furlough of employees if this employer action to furlough employees is the result of lack of work due to COVID-19/Coronavirus pandemic crisis.  This new development is covered in my second article last week, published in CEO Refresher April 1, 2020.

To read more, go to this LINK  https://www.refresher.com/new-developments-for-employee-furloughs-in-massachusetts/

Or on my website at

https://www.executiveemploymentattorney.com/new-developments-for-employee-furloughs-in-massachusetts/

This new article in CEO Refresher is intended as an update to information provided in my earlier article in CEO Refresher that contrasted the availability of unemployment benefits in connection with a layoff vs with a furlough.  https://www.refresher.com/layoff-furlough-or-other-employee-cut-backs/   The information in that earlier article of mine on the subject of availability of unemployment benefits to furloughed employees has been superseded by the new emergency regulations.

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

#Layoff #Furlough or Other #EmployeeCutBacks – #LegalIssues and #Unemploymentbenefits as your Company Responds to Dramatic Loss of Business as result of #COVID19  #pandemic crisis 

https://www.refresher.com/layoff-furlough-or-other-employee-cut-backs/

These two articles are not legal advice but is intended to offer information and ideas on existing and new laws in the hope that will be of some help to both employers and employees in these difficult very times for our State and nation.

If you or any colleague of yours has a need in this area, please do reach out to me at rob@attorneyadelson.com.

Business, Contracts, Tax and IP Law Webinar for Consultants and Service Providers

Last month on Wednesday, December 18, 2019, I delivered a half hour webinar presentation on year-end planning for Event Service Providing Professionals.  The event was sponsored by Boston Throne Chairs LL, and I was the third and last speaker on business, contracts, tax and IP law topics.

Although the event was targeted toward Event Service Providers including Event planners, DJs, videographers, photographers, caterers, balloon decorators, rental equipment services, throne rental services, event entertainers, the topics I covered could benefit other consultants and service providers prominent in the Massachusetts and New England Financial Services and Innovation Economy.  Those who might benefit from my webinar and materials could include those providing advisory or consulting services in the following areas:

  • Medical Device and Life Science fields,
  • Software, engineering and Tech fields,
  • Internet and E-commerce fields.
  • Marketing, advertising and public relations
  • Finance, investment and wealth management
  • Strategic planning and Executive management

The presentation and materials were designed to offer benefit to both existing consultant, independent service providers and providers of advisory services, and those who are considering entering the field of independent consulting.

My four topics covered, were the following:

  • Launching A Service Business
  • Making Sure You Get Paid
  • Merits, Pro and Con, of an LLC or Corporation
  • Protecting Your Photos, Videos, Your Brand and IP

To view my 7-page set of materials prepared for the December 18 presentation, which was displayed on the video screen that night for the 50 participants in the webinar.  LINK: Launching a Service Business – Robert Adelson

Again, it is my hope that these materials will benefit other consultants and service providers.  If you or any colleague of yours has a need in this area, please do reach out to me.