So somewhere in his contract something should have covered this “event”.
To lay a quote on you: “Is there a nicer way you could have posed the question?”
Urinated away by the Borad of Directors that approved his hiring.
Good Grief! Balt!! [:#] I guess we can understand your position, and animus…After all, you’re problably entitled, for the 50+ years around the Coffee Pot that you nursed parts of that Operation, you did earn some voice in the aftermath.[|(] [2c]
One kinder, gentler term that might apply is “recapture”…
I am still a stockholder and think the directors that approved his hiring should join him as they are just as brain dead as he was when they approved his hiring without requiring any form of physical examination by independent medical staff and gave him his hiring bonus.
His actions from the time he was hired are indicative of someone well on the way to losing lucid thoughts. Hiring a invalid that requires oxygen to exist day to day and paying them a $84M signing bonus is fiduciary irresponsibility. As the pupetier Paul Hilal and Mantle Ridge should be required to make CSX whole for the theft the EHH perpertrated.
Stock price in the short term minute isn’t important, the long term profitability of the company supported by sound operations and good customer service is what will facilitate long term profitability.
I have been told I have a reasonably good poison pen, when I try!
Just an uneducated guess, but any bonuses paid at time of signing would be forfeit, unless a clause appeared to allow for unforseen circumstances which would make the bonus(es) recoverable. And HH agreed with signature.
For the rest, his surviving beneficiary(ies), or spouse if he/she still lives, would be paid pro-rata for the portion of his contract that he is legally deemed to have fulfilled, minus penalties if they were included in the contract. And HH agreed with signature at the time.
Bottom line, a contract worth some laywer’s pay should have those contingencies clearly spelled out and locked up.
Estates have been known to sue.
And a nastier, meaner term that might also apply is “clawback”.
This might have been spelled out in a proxy statement back when EHH was hired and the stockholders had to vote on his compensation package. Or in an SEC 10-K filing, or similar. Maybe someone with some time on their hands can look it up.
- PDN.