Re: How to Earn
At the level he was at he would have had a contract, and if he was terminated before his contract had expired the company would have to pay him what his contract said, salary and bonus if he had achieved his goals and objectives, pension and all his benefits at the of termination, but nothing if he quit.
I was CEO of a company for 6 1/2 years. I had had enough and saved my money, and I gave a months' notice and resigned. I was willing to go and forgo future pay and benefits of my employment contract. I wanted out. The parent company hired a "consultant." He didn't know his ass from a hole in the ground. He was just put in to make sure I didn't remove documents in case I was going to a rival company. I couldn't, I had a noncompete clause in my employment contract. I had three weeks left on my resignation letter of a months' notice. he came into my office and told me. "It's better you leave today, as soon as you can." So, I said, "You are firing me then." He said "Yes I am." I told him to put it in writing. The dummy did, I packed and left. Next day I saw my lawyer. the bottom line was that letter got me seven and a bit months' salary, bonus money, a month's holiday pay, health and life insurance, and my car and driver for the balance of my contract, and other contractual goodies. I didn't really need the driver and he just parked in my driveway and read novels and on occasion took me shopping, but I said bugger it! They finally offered me 50% of the cars expense as a buyout, thank you very much. All together it was an unexpected tidy sum, and my bank account was very pleased.
I never was employed again. retired at 46 and my wife 36, and we went traveling for 13 years then enjoyed a wonderful time in South Carolina, and I have a hell of a lot of wonderful memories. I'm sure If somebody saw what they had to pay me in severance and benefits, there would be moans. What I was paid in severance was nowhere near the level that guy got, but it was a nice bit of unexpected change thanks to a chump. Oh, he got let go a month later.
Cheers Rodney
Last edited by Rodney Mills; 24th August 2023 at 07:08 PM.
Rodney David Richard Mills
R602188 Gravesend