Exactly right. They went out of their way to build in provisions to remove him somewhat “cheaply” during his probation.
Also I’m still scratching my head at this termination payment.
His $450k payment would have covered his wage for the entire escrow period before termination.
additionally, he would have been reward no performance shares however been given a $150k payment for 12 months service.
can some explain to me why the board thought it was IN THE INTEREST of shareholders. Seems to me that they have elected to pay for the MD but the company does not get his services… ?
Exactly right. They went out of their way to build in provisions...
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