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a written response from Mr. Creighton. However, petitioner was
repeatedly assured he would receive a written contract.
The Termination
On a Friday evening sometime in April 1989, Mr. Creighton
telephoned petitioner to inform petitioner that his employment with
WMC was being terminated effective immediately. Petitioner inquired
as to the amount WC would pay him in connection with the
termination of his employment. Mr. Creighton offered petitioner
approximately $560,000.1 Petitioner rejected Mr. Creighton's
offer.
The following day Mr. Creighton telephoned petitioner again,
offering approximately $700,000 in connection with the termination
of petitioner's employment. Petitioner rejected this second offer,
suggesting that he would only accept a figure greater than $1
million. Mr. Creighton replied that he would discuss this
counteroffer with Mr. Weyerhaeuser.
On Sunday, the following day, Mr. Creighton telephoned
petitioner, offering $1,125,000 in connection with the termination
of petitioner's employment. Petitioner accepted this offer.
1 It appears that Mr. Creighton computed the $560,000
figure by multiplying petitioner's annual salary by two. This
amount was far in excess of the amount called for by WC's formal
severance pay plan. (According to the severance pay plan in
effect at the time, qualified individuals were "eligible to
receive one weeks' [sic] earnings up to a maximum of eight weeks'
earnings, for each year of credited service".)
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