Estimated reading time: 0 minutes, 49 seconds

FULLSCOPE PRES GETS STAY/SALE BONUS Featured

Edgewater Technology has awarded Russell Smith, president of its Fullscope reselling operations, a stay bonus. The parties entered the agreement on December 22 with payouts depending on whether the company is sold before March 31 or not.
If there is no sale, Smith will receive $225,000 in cash 30 days after that date. If there is a sale, the company will pay him a $450,000 sale bonus—half within 30 following any qualifying sale and the other half following the one-year anniversary of any sale, provided he is still with the company. There is nothing unusual in payment for change-of-control events for executives of public companies. But those are usually open-ended and the window on this one is so narrow it’s easy to wonder if something is up. Edgewater is being run by an investor group that took over the board of directors last year and ousted CEO Shirley Singleton and no permanent CEO has been named. It’s easy to think we might see an asset sale of some kind.
Read 1852 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.