They terminated the guy so yes we do know they broke the contract don’t we? He sued in court and received a settlement...obviously, he would not have to sue if they honored his contract.
While in theory you may be completely correct, please remember that SETTLEMENTS DO NOT signify GUILT per se. You do not know what happened during the mediation process. There is a chance that while AIG conceded that there were improprieties, it could’ve also shown in the mediation that some of the charges this guy brought were going to be completely blown out of the water by AIG’s attorneys. Hence, why this man may have agreed to a settlement instead of going to trial and receiving a “half-verdict” of sorts. It could be that in light of AIG’s defense this man could’ve ended up with NOTHING except legal bills!
We just DON’T KNOW. The only ones who could make a determination are the players involved, and the lawyers who came to the settlement agreement.
No, we don't. One needs to have the contract in order to evaluate how its terms were met, or not. If it said "we won't fire you" and then they fired him, yes, they broke the contract.
[Feilbogen's] lawsuit claims Marty Wayne, managing director at AIG FP, sent Feilbogen a letter in June informing him that his employment was moving to AIG FP, and that he would work as a managing director, reporting to Wayne. In the letter Feilbogen was promised a base salary of $250,000 and told he would be eligible for additional discretionary compensation, it added.http://www.emii.com/article.aspx?ArticleID=1032636The lawsuit continues that the letter also stated that it "superseded all prior discussions, agreements and understandings of any kind and nature between [Feilbogen] and AIG-TG or AIG-FP regarding the terms of [his] employment." ...
Feilbogen then wrote to Joseph Cassano, president of AIG FP, stating that he would sign the letter if the "superceded" quote were removed and AIG agreed to honor the previously promised $1.3 million bonus for 2003, according to the lawsuit. It said that Cassano replied on July 9 that Feilbogen could choose to sign the letter as written, or resign from his post. Feilbogen did not sign the letter and was informed by Douglas Poling, general counsel at AIG FP, on the same day that his employment with the firm had been terminated "as a result of his decision to resign."
-- obviously, he would not have to sue if they honored his contract. --
The presence of a suit simply indicates conflicting interpretations of the contract language.
District of Connecticut 3:03-cv-01624-DJS Feilbogen v. AIG Trading Group, et al Dominic J. Squatrito, presiding Date filed: 09/24/2003 Date terminated: 09/08/2006 Date of last filing: 09/08/2006