Zenyatta Free Speech Board Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Zenyatta Free Speech Board

ZEN 77.48

0.0%

Nov 21 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Fact Czecher	11/30/2018 2:36:37 PM
	Read Replies (2) of 22811

From the Sep 30 Management Discussion and Analysis (page 19) Contingent Liabilities "In September 2018, the Company received a statement of claim from a former employee. The Company is in the process of reviewing the claim and preparing its defence, but views the claim as unmeritorious. The Company carries adequate insurance coverage to defend against this type of claim." I call *BULLSHT It is obvious that AE is attempting to enforce the terms of his contract - He is trying to collect his Salary as President as well as his Severance. A member of my family has owned/operated an independent insurance brokerage for 27 years. He has served on the executive of several national committees. In short - he is knowledgeable. No insurance company will cover the liabilities resulting from the fraudulent or illegal actions of the insured party. PERIOD - FULL STOP - NO EXCEPTIONS!! If ZEN's financial obligations to AE are deemed to be a legal contract - ZEN will be judged to have illegally broken the contract and is on the hook for the payments (plus AE's legal expenses). If ZEN cannot come up with the cash (or reach an agreement with AE), those who made the decision to cut him loose without the contracted compensation are on the hook (members of the Team Yellow BOD) This is not a surprise. The "bashers" have warned of this exact scenario several times. But then, what do we know?? From AE's Employment Contract - "If an installment is not paid under the settlement agreement, the remaining balance of the $900,000 severance amount becomes due and payable." AE's next Severance Installment ($75,000) is due tomorrow - December 1st. Pass the Popcorn - This is getting interesting!**

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next