What are the usual terms for severance packages and non-compete clauses for general managers hired to run startup companies?
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As to severance pay, again, there is no set standard. However, when you look at trends for executive compensation (thanks to the internet), it seems that your prospective general manager is being overly greedy and you are being overly generous: Two weeks per year of service seems to be the norm. Think about it--if she turned out to be a mediocre hire and you fired her after 12 months, why would you want to be obligated to pay her another 6 (in severance)? You may want to carve out an exception to having to pay severance if the reason for her termination is that the company is going belly-up. Should you agree to providing a severance package, make sure you have a consistent policy with all other hires of the same level. Otherwise, you could find yourself in "discrimination territory." Again, a good employment attorney can help you craft a severance policy that really works for you.