Replies to post #225230 on Plastic2Oil Inc (PTOI)

[jcoukr]

According to the 8k raubers options got increased from 90 days to seven years. 200,000 shares he has the option to purchase over the next 7 years at $1.50 ea. So yes he so stands to make a ton of money off the success of Jbi!

That's why I believe this is part of the plan.

[loanranger]

"That's not how I read it."
You didn't have to read it.

"So I imagine an agreement fitting neither of the above categories was worked out,"

And so it was:
http://www.sec.gov/Archives/edgar/data/1381105/000121390013002182/f8k050113ex99i_jbi.htm

written to include:
15. Effect on Previous or Existing Agreements. This Agreement is intended to resolve any and all issues between the Company and you, including, without limitation, any and all claims for wages, compensation, benefits, or other aspects of the employment relationship between the Company and you. This Agreement shall supersede and extinguish all prior employment agreements, express or implied, verbal or written, between the Company and you.



If he thought that he could establish "Good Cause" he gave up $400k by signing the Separation Agreement. Either he didn't think he could do that or felt it was not worth the effort, net of attorney fees and aggravation.
I got the sense that he just wanted to make it all go away.