Tim Murnane left real estate development firm Opus Northwest in June 2009 after negotiating a $2 million severance package to be paid out over 10 years. Murnane took a new position with St. Louis-based Clayco Inc., another developer in the Twin Cities area.
All was going well until March, when a scheduled $79,266 payment from Opus failed to arrive in Murnane’s mailbox.
Allegedly he received a letter from Opus President John Solberg stating he was sorry that Opus Northwest failed to make the payment on time and explained that no further payments would be made on the severance package.
Murnane filed suit in Hennepin County District Court to force Opus to live up to its contractual obligations
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/11748/former-exec-sues-over-missed-severance-payment "