Ehrlich picks up nice exit package from flailing company.
Live Current Media (OTC: LIVC.ob) is giving outgoing President and Chief Operating Officer Jonathan Ehrlich a $600,000 package as he exits the company. The package includes:
-$275,000 cash, to be paid out semi-monthly over the next twelve months
-Other benefits of $23,000 paid out along with cash
-Still more benefits in the total gross amount of $52,000 paid in semi-monthly installments
-$250,000 in restricted stock, paid out over the next twelve months
-Up to $25,000 in relocation allowance if Ehrlich relocates to Toronto, Ontario prior to October 2009.
The severance replaces Ehrlich’s employment agreement entered into September 7, 2007.
Does this seem like a healthy package for a company that’s losing money hand-over-fist, just laid off 38% of its staff, and has seen its market cap wilt to below $10 million? Well, he might not see all of it. The company may run out of cash before he finishes collecting.
I’ve owned Live Current stock over the years (previously called Communicate.com). The company had so much promise. But it flubbed it. Here’s a good analysis of the problem written by Matthew Mayer.
I’ll write more about Mayer’s commentary in another post, as I think it warrants its own discussion. You might find some of his opinions on domain domains inflammatory.
Steve M says
Well…I suppose the only good news here is that they didn’t get their hands on any of the Fed gov’s “save the fools with our tax payer money” bailout bucks…meaning he might have walked away with millions instead.