CHIEF TECHNOLOGY OFFICER (CTO) OF NORTH CAROLINA SOFTWARE COMPANY – EMPLOYMENT AGREEMENT, EQUITY AND VESTING ARRANGEMENTS
As a Boston executive employment lawyer, I have helped various executives at various companies throughout the United States negotiate for the employment agreements and equity arrangements that they deserve. This particular example highlights some of the things that I was able to achieve for the CTO of a North Carolina software company:
Authority over hiring and budget: We negotiated for an expansion of authority to oversee software architecture, to assist in software development, and to help with the development of product strategy and vision, along with the responsibility for hiring and firing within the CTO’s department, and to develop the department’s budget, subject to Board approval, and the responsibility for equipment purchasing needs.
Resisted founder re-vesting vs. VCs: We resisted the investor’s desire for an equity repurchase agreement that would require the vesting of the CTO’s founder shares that were already owned by the CTO, and also to secure a reload of new options on favorable terms to diminish dilution in B round investment into the company.
Severance trigger for good reason: We negotiated for severance pay and partial equity put with triggers to include if the CTO quit his position for “good reason” due to any material restriction on his authority of responsibility, as well as for any cut in base pay.
Executive Employment Contract Services
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