Contract analysis
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Contract analysis / email-vasquez-to-whitford-forwarding-rejection.eml
email-vasquez-to-whitford-forwarding-rejection.eml
High · 1
Medium · 0
Standard · 0
1. A change in control severance multiplier of 3x base salary plus target bonus;
1. A change in control severance multiplier of 3x base salary plus target bonus;
2. A full Section 280G excise tax gross-up, rather than a best-net cutback;
2. A full Section 280G excise tax gross-up, rather than a best-net cutback;
3. Inclusion of a board turnover trigger (majority replacement within any 12-month period)
3. Inclusion of a board turnover trigger (majority replacement within any 12-month period) in the change in control definition; and
4. A non-compete limited to 12 months and restricted to the eight scheduled direct competi
High
⚑ Non-compete / exclusivity restraint
4. A non-compete limited to 12 months and restricted to the eight scheduled direct competitors previously identified. Mr. Harding views each of these provisions as reflecting the appropriate market standard for a role of this scope and significance, and he is not in a position to make further concessions on any of these points. I regret that we have been unable to reach agreement despite the considerable effort inves