Vince McMahon relinquished his power as CEO of WWE following the WWE Board of Directors’ investigation of him. Some have wondered whether the WWE Board of Directors could potentially have McMahon removed from power permanently. Well, we might have some answers.
Wrestlenomics’ Brandon Thurston took to social media and posted a November 2010 employment agreement with McMahon filed by the SEC. The agreement lays out the conditions for which the Board of Directors could remove McMahon from power. You can check out the agreement below:
“The Company may terminate the Executive’s employment under this Agreement at any time with or without Cause (as defined below). For purposes of this Agreement, the Company shall have “Cause” to terminate the Executive’s employment under this Agreement by reason of any of the following which is materially and demonstrably injurious to the interest, property, operations, business or reputation of the Company or its affiliates:
(a) the Executive’s theft or embezzlement, or attempted theft or embezzlement, of money or property of the Company or its affiliates;
(b) the Executive’s intentional perpetration or attempted perpetration of fraud, or participation in a fraud or attempted fraud, on the Company or its affiliates;
(c) the Executive’s willful and intentional material misconduct in performance of his duties or gross negligence of his duties (other than due to the Executive’s Disability), including an intentional failure to follow any applicable Company policies or directives;
(d) the Executive’s conviction of or plea of guilty or nolo contendere to a misdemeanor involving moral turpitude or any felony; or (e) the Executive’s willful and intentional material breach of this Agreement, including the restrictive covenants set forth in Section 8.”
It was announced that McMahon will be appearing on tonight’s episode of SmackDown to possibly address the situation.
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