Hi Elit,
From my experience I understand it to be common place for professional services firms to structure equity participation with non-competes, which limits their principles from just up and resigning and taking clients with them. 6 months gardening leave and 12 month non-solicitation of clients is not uncommon. Would appreciate Grant weighing in here with his own experiences. What are your thoughts on this as it appears to be largely omitted from your opinion above?
You also neglect to comment on equity vesting, which is another common place tool for staff retention. I understand this can apply to both equity for consideration of acquisitions and to STI / bonuses. Bringing this back to SGH, unvested equity at this point is practically worthless so Anchorage and other new lenders will have to be looking at other options to reset this to motivate staff going forward. Enter new incentive programs that can be offered to staff that don't necessarily need to be extended to all SGH shareholders.
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Hi Elit, From my experience I understand it to be common place...
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