"He would not have been eligible for severance if he quit voluntarily. Severance is either a benefit covered by ERISA or it is a negotiated benefit covered by an employment agreement or a termination agreement."

In the event that Mr. Blakeley’s employment is terminated for any reason other than cause, then he shall be eligible to receive up to three months severance in the form of salary continuation."

debatable....

The following statement to me, says there was a mutual understanding allowing either side to walk away from this agreement, where he was still eligible for the severance. I see a trust and testing period of both sides. Having an open contract is probably why he left, perhaps he wanted something more binding and was not able to get it. Times are tough to be looking for a 200k job....but I guess that would depend on who he knows. As it looks now he still has his holdings of 500k +. e.Digital is not immune of the crisis where he most likely felt he would be down the road eventually.

"Mr. Blakeley’s employment will be at-will with no specified period or term of employment.

That walkaway trust seems to be a consideration of not only employment but for deals they make with others. Boyer was a partner to some extent and If you read the contract clauses, there were conditions of escape from either side with very minimal consequence.

doni