In September 1986, Mr. George L. Pote (Mr. Pote), who was executive vice-president of Pandick, Inc. (Pandick), informed Mr. Vito Salerno (Mr. Salerno), who had been comptroller of Pandick for 16 years, that his performance as comptroller was unsatisfactory, and, Mr. Salerno was asked to resign or he would be fired. Thereafter, on October 30, 1986, Mr. Salerno resigned, pursuant to a termination agreement, which included provisions for financial compensation upon his resignation...
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