Smells like a potential M&A situation to me… in our experience, every time a “retention bonus” appeared in the picture, some sort of a “big fish swallowing smaller fishes” event followed. Some of those bonuses can turn into a pumpkin at the strike of midnight during acquisition. So if he has a better gig lined up, make sure he reads all of the legal gibberish in that letter to make an informed decision about whether to stay or to leave.
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