Topic

Executive Severance

The contract terms that decide what departing executives are paid, including golden parachutes, equity acceleration, cause definitions and Good Reason clauses.

Current clusters

build1 publisher

A 60-day notice clause is Automattic's documented way out of $8.15M in severance

Automattic's board put Matt Mullenweg on leave on 9 September and he was back inside 33 hours; the two mutual severance agreements that took effect in that window carry an estimated $8.15M and a for-cause escape route.

Publishers:mezha.net

Reality

Evidence34
Adoption: Insufficient
Hype gap+20
Incentives72
Confidence40

product1 publisher

Two Automattic executives signed each other's severance in the 33 hours their CEO was out

The reciprocal deals, effective September 10, would cost Automattic $8.15 million now that Matt Mullenweg has fired both men. The company's new lawyers are deciding whether to pay out or contest the documents.

Publishers:techcrunch.com

Reality

Evidence62
Adoption: Insufficient
Hype gap+12
Incentives76
Confidence56