Considering he hasn’t been fired yet, your comment (once again) makes absolutely no sense. Did you not make it to the end of the 3rd paragraph?
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The letter adds that he doesn’t get the money, in part, if he leaves before a successor is named or if he is fired before that point.
@Confused; if he wasn’t LEGALLY fired, why is he leaving?
The terminology used is irrelevant. Agent used the street name for involuntary termination. It is an agreement that permits avoidance of publication of the street name in exchange for the payoff and avoidance of a lawsuit. In other words, the lawsuit that would have occurred has been settled before it was filed.
He was not an insurance guy. Wall Street continuously believe they can install one of their own only to crash and burn later. They’ll never learn.
Jeez. $5M just to stick around while they find a replacement. It’s no wonder AIG is going under slowly and painfully.
He should have been handed a cardboard box the first day he was fired.
Considering he hasn’t been fired yet, your comment (once again) makes absolutely no sense. Did you not make it to the end of the 3rd paragraph?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The letter adds that he doesn’t get the money, in part, if he leaves before a successor is named or if he is fired before that point.
@Confused; if he wasn’t LEGALLY fired, why is he leaving?
The terminology used is irrelevant. Agent used the street name for involuntary termination. It is an agreement that permits avoidance of publication of the street name in exchange for the payoff and avoidance of a lawsuit. In other words, the lawsuit that would have occurred has been settled before it was filed.
Your question has already been answered in the article.
What are the chances he will get “fired” before he gets to collect the $5 mil?