Title : "TMZ is privy to Weinstein's 2015 employment contract, which says if he gets sued for sexual harassment or any other 'misconduct' that results in a settlement or judgment against TWC..."
link : "TMZ is privy to Weinstein's 2015 employment contract, which says if he gets sued for sexual harassment or any other 'misconduct' that results in a settlement or judgment against TWC..."
"TMZ is privy to Weinstein's 2015 employment contract, which says if he gets sued for sexual harassment or any other 'misconduct' that results in a settlement or judgment against TWC..."
"... all Weinstein has to do is pay what the company's out, along with a fine, and he's in the clear," says TMZ without providing the entire text of the contract.Notice the focus there is on the use of corporate funds:
According to the contract, if Weinstein "treated someone improperly in violation of the company's Code of Conduct," he must reimburse TWC for settlements or judgments. Additionally, "You [Weinstein] will pay the company liquidated damages of $250,000 for the first such instance, $500,000 for the second such instance, $750,000 for the third such instance, and $1,000,000 for each additional instance."But we're also told — without enough text from the contract:
The contract says as long as Weinstein pays, it constitutes a "cure" for the misconduct and no further action can be taken. Translation -- Weinstein could be sued over and over and as long as he wrote a check, he keeps his job.I'd like to see the text there. I can't believe the corporation would put its knowledge and facilitation of an illegal scheme into the text.
We're also told that the text provides that "a material fraud against the company," so it seems that Weinstein — as he (and his lawyers) pressured the company not to fire him — must have said that the scheme was well known, so there was no fraud. It's easier to imagine behind-the-scenes negotiations in these terms than actually going to court with such arguments, but just as Weinstein settled with his accusers, he was a deal-maker, not a litigator. As for the board, they have to worry that they have spiraling liabilities now. What they owe or don't owe Weinstein seems to be the least of it. We saw board members suddenly resigning last week, which might just have been to make it look as though they were shocked, shocked to learn what Weinstein was up to. But if the contract is what TMZ makes it sound like, then didn't they know all along?
Again, I'm not seeing the whole text of the contract, and I'd like to know a lot more about how the different terms fit together, but it's really hard to understand why this thing was written like that. I suppose it could be argued that Weinstein needed protection from false accusations (and perhaps there was a background understanding that there would inevitably be many disappointed supplicants for his favor and it's predictable that some will take revenge with accusations about sexual things that happen when they are were alone with him).
Thus Article "TMZ is privy to Weinstein's 2015 employment contract, which says if he gets sued for sexual harassment or any other 'misconduct' that results in a settlement or judgment against TWC..."
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