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Decades later, I've seen very little progress in minority executive employment.
He later sold his interest in the company, and in 1984 he helped found Seiden Associates, another executive employment organization.
Mr. Eckhaus is joining from the law firm Katten Muchin Rosenman, where he served as the head of that firm's executive employment practice.
"This is post-Enron, when boards should have understood that you cannot base compensation on short-term profits alone, and yet they continued to sign executive employment agreements with no claw-back provisions," he said.
Executive employment contracts came to the fore last week after L. Dennis Kozlowski was indicted on charges that he failed to pay more than $1 million of New York sales taxes on paintings he had bought.
"A significant portion of the loans were to let executives buy equity either because the company required it, or because they thought it was a smart move," said Joe Bachelder, a New York lawyer who negotiates executive employment contracts.
Similar(48)
There were also disagreements over top executives' employment contracts.
Mr. DeMarco added that canceling the executives' employment contracts would make it difficult to attract skilled professionals to work at the company.
Mr. Morris's move would settle a series of prominent personnel shifts at the major record labels, which have been complicated by the timing of executives' employment contracts.
Over the last decade, many top executives have quietly persuaded their boards of directors to insert a remarkable set of protections into the executives' employment contracts.
Although he stepped down as chief executive, an employment contract that allowed the company to use his name assured him payments of $700,000 a year -- payments he continues to receive, even while in prison.
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CEO of Professional Science Editing for Scientists @ prosciediting.com