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At the time petitioner's employment was terminated, he had
been employed by WC for approximately 21 years.
Settlement Agreement and General Release
Following petitioner's acceptance of Mr. Creighton's
$1,125,000 offer, attorneys became involved in drafting the
settlement agreement. Petitioner's attorney attempted to insert a
statement in the draft agreement that the $1,125,000 payment was in
consideration for tort liabilities. WC's assistant general counsel
specifically refused to acknowledge that WC's $1,125,000 payment to
petitioner was in consideration for any tort liabilities.
On May 16, 1989, petitioner and Mr. Creighton (on WC's behalf)
signed a Settlement Agreement and General Release of All Claims
(General Release). Pursuant to the General Release, petitioner was
paid $1,125,000 in consideration for releasing all potential causes
of action against WC and WMC. In this regard, the General Release
stated:
The Cash Payment shall represent full and
complete satisfaction, settlement and release
by Wise of any and all claims he has or may
have against any entity in the Weyerhaeuser
Group, or any director, officer of [sic]
employee of any entity in the Weyerhaeuser
Group for salary, bonus and other incentive
compensation, severance pay or other
compensation based on termination of employment
and accrued and unpaid vacation pay.
* * * * * * *
Wise does as of the Effective Date release
Weyerhaeuser, each subsidiary of Weyerhaeuser,
and each director, officer, employee and agent
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