Mike Franks, Neosho, is the latest O'Sullivan Industries official to be fired, according to a filing Thursday with the Securities and Exchange Commission. He had been serving as vice president/marketing.
"Under the agreement," the document said, "we agreed to pay Mr. Franks' salary through April 3, 2006, and to continue his health insurance through Jan. 31, 2006." The document was signed by Rick A. Walters, interim CEO.
The agreement contained the usual requirements that Franks cannot say anything bad about the company, which probably means he won't ever be able to mention the company's name again.
He also will not be able to sue O'Sullivan for wrongful dismissal or for any other reason, the documents indicate. Franks still has three weeks to decide whether to sign the agreement and seven days after signing the agreement to revoke it if he changes his mind.
4 comments:
dont feel too sorry for Mr.Franks. He was right in there with the new guys when all of this was falling apart. He showed his allegiance.
Yeah, "victim" and Mike Franks don't go well together. He was the first one with his nose up the new guys butt, so don't feel too sorry for him.
we should not feel to sorry for him
lets not forget he is still drawing a paycheck until april sometime.for doing absolutely nothing.which is basically what he got paid for from day 1
he is a real victim alright, and there are a few more that I would not jerk any tears over, and there noses are stuck in the same place as Mike Franks was, if those certain ones make a sudden stop stop they will all be in over their heads, and being a victim myself from the elite group of 28 on January 4th, how does he manage to retain payment until april something,
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