{"id":169,"date":"2007-04-18T00:13:52","date_gmt":"2007-04-18T08:13:52","guid":{"rendered":"http:\/\/www.onecle.com\/blog\/2007\/04\/18\/a-no-lose-situation\/"},"modified":"2007-04-18T00:13:52","modified_gmt":"2007-04-18T08:13:52","slug":"a-no-lose-situation","status":"publish","type":"post","link":"https:\/\/www.onecle.com\/blog\/2007\/04\/18\/a-no-lose-situation\/","title":{"rendered":"A No-Lose Situation"},"content":{"rendered":"<blockquote><p><strong>New York Times DealBook<\/strong>:  <a href=\"http:\/\/dealbook.blogs.nytimes.com\/2007\/04\/16\/sovereign-ex-chief-says-his-exit-was-misinterpreted\/\">Sovereign Ex-Chief Says His Exit Was &#8216;Misinterpreted&#8217;<\/a>. When Jay Sidhu resigned as chief executive of Sovereign Bancorp last October amid pressure from investors over his deal-making, the Philadelphia-based bank said he was leaving for \u201cfamily health reasons.\u201d Later, though, Sovereign disclosed in regulatory filings that Mr. Sidhu had faced \u201cthreatened termination by the company without cause.\u201d<\/p><\/blockquote>\n<p>I&#8217;ve added <a href=\"http:\/\/contracts.onecle.com\/alpha\/2963.shtml\">Sovereign Bancorp Inc. contracts<\/a> to the site.  Items of interest include the &#8220;<a href=\"http:\/\/contracts.onecle.com\/sovereign\/sidhu-severance-2006-10-10.shtml\">Retirement Agreement<\/a>&#8221; between Sovereign and Jay Sidhu, as well as the <a href=\"http:\/\/contracts.onecle.com\/sovereign\/relational-settlement-2006-03-22.shtml\">Settlement Agreement<\/a> between Sovereign and Relational Investors.  Since when do you threaten to terminate someone, then turnaround and handout a 3 year consulting gig for $40,000 per month?  If you&#8217;re thinking that he will toiling away for a mere $40,000 a month, think again.  &#8220;Executive\u2019s duties shall not exceed 40 hours per month of consultation&#8230;.&#8221;  Should we all be so lucky.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Times DealBook: Sovereign Ex-Chief Says His Exit Was &#8216;Misinterpreted&#8217;. When Jay Sidhu resigned as chief executive of Sovereign Bancorp last October amid pressure from investors over his deal-making, the Philadelphia-based bank said he was leaving for \u201cfamily health reasons.\u201d Later, though, Sovereign disclosed in regulatory filings that Mr. Sidhu had faced \u201cthreatened termination [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20],"tags":[],"class_list":["post-169","post","type-post","status-publish","format-standard","hentry","category-severance-agreement"],"jetpack_featured_media_url":"","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/posts\/169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/comments?post=169"}],"version-history":[{"count":0,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/posts\/169\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/media?parent=169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/categories?post=169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/tags?post=169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}