TMZ reports,
According to the contract he had with TWC, 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.”
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.
Is TWC open to law suits over such a contract?
14 Oct 17
Originally posted by @whodeyIt's akin to what all manufactures are forced to do when it comes to rewarding their shareholders: how much profit is the company realizing as a result of the asset's use in comparison to the cost of a recall, while adding the third prong: what's the worst case scenario if we let it go?
TMZ reports,
According to the contract he had with TWC, 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 ...[text shortened]... as long as he wrote a check, he keeps his job.
Is TWC open to law suits over such a contract?