
Entrepreneur Elon Musk and his X Corp have achieved an agreement in a dispute over severance pay with former Twitter employees (now X). Four former best executives on Twitter – including the former CEO of Parag Agrawal. They claimed that they had not been paid $ 128 million per promised severance pay after Musk took over and threw them.
The settlement published in San Francisco last week did not reveal its conditions. The former best executives who filed a lawsuit against Elon Muska are: Parag Agrawal; Ned Segal, former Twitter CFO; Vijaya Gadde, its former Chief Legal Director; And Sean Edgett, his former General Council.
Case against Musk
The former executives, released after Elon Musk acquired Twitter and rebranded him like X, accused him of “false” evidence and forced them after they sued him to try to retreat from his purchase.
“In his end letters, he claimed that every plaintiff had committed” gross negligence “and” deliberate misconduct “without quoting a single fact to support this claim,” CNN quoted.
The court of court mentions that after their firing Elon Musk denied severance payers who were promised.
The petitioners say each of them owes a year of salary and hundreds of thousands of dollars worth equity options.
Elon Musk and X denied the offense and said the executives were released at their performance.
Parag Agrawal was entitled to an annual salary of $ 1 million and the highest executive was also awarded $ 12.5 million in its bid letter. The former CEO of Twitter was also entitled to a “gold parachute” payment of $ 60 million in the event of an involuntary termination.
1 October Federal judge postponed deadlines for filing and scheduled hearing that allows you to complete time to agreement.
In August, Elon Musk reached a separate settlement with former Twitter employees who were released during bulk cuts and accused the company of detaining $ 500 million.
Cases are among a number of legal challenges that Musk, the richest person in the world, faced the twitter in 2022 for $ 44 billion, reduced more than half of his workforce and renamed it X.
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