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William “Butch” Hulse allegedly told outside counsel for MiMedx’s former CEO and COO that the firms were “great lawyers” and would get paid for their work.
“General counsel compensation has evolved with the way compensation is viewed at the C-suite level. There is a greater emphasis towards equity and a greater emphasis on company performance," says John Nixon, a partner at Duane Morris in Philadelphia who helps negotiate GC compensation.
“As we see over and over again, the cost of not getting this right can be enormous. Ask BP the cost of not getting risk management and safety protocols right. Or Volkswagen about admissions controls,” David Wilkins, professor of law and faculty director at the Harvard Law School Center on the Legal Profession in Cambridge, Massachusetts, said. “These are not just liability costs, but reputational costs.”
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