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period before termination of employment was $323,334. Attached
to the request was the same “Reason for Termination of Service”
that Dr. Domingo had attached to his benefit request. Both forms
were signed by Dr. DeAngelis on June 30, 2001. Before that
request, neither VRD/RTD nor Dr. Domingo notified STEP that Dr.
Domingo had stopped providing services to VRD/RTD on January 1,
1999.
On August 10, 2001, Teplitzky & Co. forwarded Dr. Domingo’s
claim for severance benefits to Mr. Pagano, asking Mr. Pagano if
he agreed or disagreed with the claim. On September 4, 2001, Mr.
Pagano informed Teplitzky & Co. that he had reviewed Dr.
Domingo’s claim for severance benefits and that he confirmed that
it was an “induced termination due to non renewal of contract”
which would be a qualifying event for severance benefits under
the STEP plan.
On September 20, 2001, Teplitzky & Co. notified Dr. Domingo
that his severance benefit had been approved in the estimated
amount of $233,661 and offered Dr. Domingo the opportunity to
“purchase” the Domingos survivor whole life policy, coverage of
which was $587,232, for $5,496. On September 25, 2001, Dr.
Domingo wrote to Teplitzky & Co. asking for answers to certain
questions he had about his benefits and his life insurance
policies, including a question as to why he had to pay so much to
purchase the Domingos survivor whole life policy. On September
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Last modified: March 27, 2008