You need to pay a new guy that much because whether he likes it or not, his name will automatically be added to the lawsuits and he will have to defend himself. Even if the company pays for it, it's another distraction. The shareholder suits IMO will likely get tossed out or be settled for a minimal amount even though obvious fraud has been committed by previous management IMO.
The fact that the COO is being paid $300K per year with up to a $150K annual bonus + stock is rather surprising given how low their sales are right now. I would have thought that most of the compensation would have ben in stock so the guy can prove his worth. Right now he locks in a minimum $300K per year without doing anything.
I wonder if this guy has had any relationship whatsoever with Lizada and he there to help keep a eye on their investment. All in all the guy has an impressive resume. The writing appears to be on the wall for certain other management members as the transition continues.
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