Golden Parachute

SB didn't get what he deserved, quite the opposite.

He has a golden parachute, which only pays out reliably IF/WHEN the company isn't in CH 7 or 11. Parachutes get trimmed down, and sometimes eliminated entirely in bankruptcy.

They didn't throw him out a window, they put him in a life raft. He'll get paid out, and after that, look for CH11. IF anyone here read up on his nonsense agreement and knows what the payout timeline is, please chime in. That is a good indicator of when they might be filing.

#Bankruptcy #Company #Finance #GoldenParachute #Layoffs

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Again, super alarming that he is the only one to get canned. They are waiting for CH11 to fire everyone and skip out on severance packages.

This was all part of the master plan. X buys Lex for 1.5b, they retain all leadership and $s on their books, SB resigns gets a handsome payout, brings a few of friends behind the scenes along for payout then ride off into sunset. Oh good luck LP

They will file bankruptcy for sure. I would put it at 95%. Glad to see that guy go. Listened to him at a conference throwing around F-bombs. Xerox is the worst company to do business with out of any copier company as a "partner". Everyone has their own agenda and no one can make a decision other than top leadership. Their IT play is not working and no dealers will resell it.

@a2 TY!

Looking now.

Not sure if it was amended, but the 2022 employment agreement when he became CEO appears to require him to maintain $5M in stock.

So the decrease in share price could have been the legal cause for termination, with the zero confidence from rank and file employees being the true cause.

That’s still only if that clause still applied and if the board chose to enforce it.

Thread regarding Xerox Corp. layoffs

Golden Parachute

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