The article went on to discuss the fact that many startup testing company CEOs were profiting hundreds of thousands of dollars. On the other hand, in 2020 many other industry CEOs were experiencing hardship and pay cuts.
“There was plenty of ‘belt-tightening’ for executives in 2020, when the pandemic caused widespread layoffs, and it was common for CEOs to take pay cuts up to 40%,” said Hickey.
Tom Hickey devotes his practice to representing companies and senior management in executive compensation matters. This experience includes contract negotiations, as well as the drafting of executive compensation and benefit plans, shareholder agreements, employment and separation agreements. In addition to representing numerous CEOs, presidents and other senior management, his experience includes legal counsel pertaining to labor and employment affairs and general business matters.