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Re: Regarding the new CEO situation

By: Down And Out Man in ALEA | Recommend this post (0)
Tue, 08 Oct 13 8:48 PM | 87 view(s)
Boardmark this board | The Trust Matrix 		Msg. 14833 of 54959
(This msg. is a reply to 14832 by DigSpace)
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"I can't remember how big the parachute is, but it was 7 digits."

In the event that Mr. Sprague's employment is terminated without cause or in certain other circumstances, Mr. Sprague will be paid a lump sum in an amount equal to three (3) years' annual base salary then in effect, and continued health insurance and other benefits for a period equal to the remaining term of employment then in effect. This employment agreement also contains a two-year post termination covenant not to compete.

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The above is a reply to the following message:
Re: Regarding the new CEO situation
By: DigSpace in ALEA
Tue, 08 Oct 13 8:36 PM 		Msg. 14832 of 54959

basically,

1. health (doesn't appear to be the case)
2. gross malfeasance (well within their capacity, but who knows, as stated elsewhere, that last 8k was really fishy to me)
3. collapse of private investor confidence (the last couple placements have not been kind to the investors, a new thing for Wave, the old routine of news/PP/news SP run has completely gone flat.
4. mutiny at Wave
5. or, things are falling apart and radical reorganization is required.

My money is on all of 2 through 5.

I can't remember how big the parachute is, but it was 7 digits.

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