January 18, 2022

Offer negotiations for severance/retention

Ed. note: Here’s another question from the mailbag. As is alluded below, some users are still experiencing problems posting to Open Items, so we continue to investigate. In the meantime, if you are unable to publish your post, email it to editor@goingconcern.com. Apologies for the inconvenience.

Has anyone below the rank of Director in industry seen severance clauses or retention clauses in offer letters/contracts for accountants (like in the event of the company being bought out or IPO)? Asking for benchmark purposes (and to see if OI is working). I know it’s common for controllers (typically non-tax folks) to get this. How common is this? and how would someone proceed to negotiate this? Would a lawyer be needed?

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