What if the executive doesn't want to move on? I'm not talking about people who have vested and are ready to bolt, but those who have founded the business and want to grow it further ... but are now no longer wanted by the venture capitalists.

The post strikes me as something that a VC or appointed board member might show an inexperienced CEO or CTO before they get shown the door and are replaced by "professional management." Don't make a fuss, and accept our less-than-ideal severance terms. It's for the good of the company.