Here is a note from Kyle Stone, Larry’s Campaign Director. “Awesome news to report —Larry has accepted the CEO position at XXXX. He and his family currently reside in a mid-western state. They had just completed relocation from overseas. Believe it or not, he had previously accepted a COO position with another company, while his XXXX candidacy was still under consideration.
I counseled him in great detail, especially on his XXXX negotiations, and aside from a signing bonus (which he and I worked on as something to be added to his base salary); he received everything else he asked for. In my placement follow-up conversation he revealed the following:
-increased the $225,000 base offer to $252,000 ($87,000+ better than YYYY’s base offer)
– $100,000 annual performance/signing bonus
– 3% equity stake (currently valued at $2M)
-consideration for a seat on the board
-a complete exit package
Join me in congratulating Larry” – Kyle Stone