PTC execs cash out if acquired

Roopinder at tenlinks.com dug out an interesting article in the Boston Business Journal. Apparently, PTC has been through a “change-in-control policy” that stumps up serious cash to the executives running the company if it is ever sold. we’re talking a share of $1.9 million. what’s also interesting is that this is a 10 percent increase in the $18 million already promised to those executives.

In specifics, it seems that the payments would go to CEO C Richard “Dick” Harrrison, CFO Cornelius “Neil” Moses III, Chief Product Officer Jim Heppelman and two other EVPs. Harrison alone would net over $15 million.

But what really amazed me was that someone would have the name Cornelius and not use it.