milestone / Re: lambertslunatics / Re: This will be the last time I say
posted on
Oct 15, 2009 06:21PM
"If it was as cut and dried as you suggest, then there would be no need to execute a separation agreement."
"Contractual obligations."
Actually, if RG had been fired simply for cause, I don't believe a separation agreement would be required, though one might be desired. From the 10q:
"As stated in the Employment Contracts section above, Mr. Goerner is entitled to severance payments should he be terminated without cause until June 28, 2009, and Mr. Flowers is entitled to severance payments should he be terminated without cause or resign for good reason as specified in the Flowers Agreement.
In order to be entitled to the severance payments, Mr. Goerner and Mr. Flowers must sign a separation agreement which includes a general release of all claims and a non-disparagement agreement. Payments are to be made by us according to our payroll schedule for a minimum period of six months."