Pays Outgoing Executive $600,000 — Live Current

Ehrlich picks up nice exit package from flailing firm.

Live Current Media (OTC: LIVC.ob) is giving outgoing President and Chief Operating Officer Jonathan Ehrlich a $600,000 package as he exits the firm. The package includes:

-$275,000 cash, to be paid out semi-monthly over the next twelve months
-Other benefits of $23,000 paid out along with cash
-Still more benefits in the total gross amount of $52,000 paid in semi-monthly installments
-$250,000 in restricted stock, paid out over the next twelve months
-Up to $25,000 in relocation allowance if Ehrlich relocates to Toronto, Ontario prior to October 2009.

The severance replaces Ehrlich’s employment agreement entered into September 7, 2007.

Does this seem like a healthy package for a firm that’s losing money hand-over-fist, just laid off 38% of its staff, and has seen its market cap wilt to below $10 million? Well, he might not see all of it. The firm may run out of cash ahead of he finishes collecting.

I’ve owned Live Current stock over the years (previously called Communicate.com). The firm had so much promise. But it flubbed it. Here’s a good analysis of the problem written by Matthew Mayer.

I’ll write more regarding Mayer’s commentary in another post, as I think it warrants its own discussion. You might find some of his opinions on domain domains inflammatory.