Trial Witness Says Ovitz Pay at Disney Was Unreasonable
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The Walt Disney Company&#39;s multimillion-dollar contract with Michael S. Ovitz was unreasonable and one of the most generous ever, a compensation expert testified yesterday.
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LOS ANGELES  - It was unusual but not  unprecedented for the head of the Walt Disney Co. compensation  committee to be negotiating an employment contract that his  group would eventually approve, former committee chair Irwin  Russell testified at the trial surrounding Michael Ovitz's  contract and severance.
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GEORGETOWN, Del.  - Walt Disney Co.'s  multimillion-dollar contract with Michael Ovitz was  unreasonably generous and one of the most lucrative ever, a  compensation expert testified on Monday for shareholders suing  the board to recover as much as $200 million.
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In his fifth day of testimony, former Disney president Michael Ovitz said protecting himself financially from a job loss during his contract negotiation was important, The Associated Press reports.
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Walt Disney Co. Chief Executive Michael Eisner testified Wednesday that he relied on advice from the company&#39;s top lawyer in determining that former Disney President Michael Ovitz couldn&#39;t be fired for cause.
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Michael S. Ovitz, the disgraced former president of Walt Disney, last week told his side of the story about his controversial tenure at the company in the mid-1990's.
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Walt Disney&#39;s board of directors went on trial this week on shareholder accusations that it merely rubber-stamped a decision to hire Michael Ovitz and allowed him to walk away
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Ovitz delivers testimony in a shareholder lawsuit that demands that he and other Disney directors repay the company for severance packages plus about $60 million in interest.
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Michael Ovitz staunchly defended his efforts as president of the Walt Disney Co. on Thursday in between biting exchanges with the attorney representing shareholders in a $140 million lawsuit.
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Walt Disney Co. could have fired Michael Ovitz as president without paying him $140 million in severance, a law professor testified Thursday in the trial of an investor lawsuit seeking return of the money.
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Michael Ovitz, Walt Disney Co.&#39;s former president, said Friday he was mistaken in his previous testimony that his annual bonus was tied to Disney chief executive Michael Eisner&#39;s bonus.
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NEW YORK - A lot of people say Michael Ovitz was overpaid at Walt Disney Company. These critics dwell on the superficial, noting, for instance, that he worked at the company just 14 months and was paid $140 million when he quit.
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The shareholder lawsuit against Disney leadership took a melodramatic turn Thursday as a plaintiffs&#39; lawyer accused former president Michael Ovitz of leaking
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Lawyers for investors suing Walt Disney Co. questioned whether chief executive Michael Eisner held a formal meeting to tell board members there were no grounds to deny then-president Michael Ovitz $140 million in severance. Shareholders of Disney, the number two US media company, contend directors did not know Ovitz might be entitled to the $140 million if ...
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Walt Disney Co.'s multimillion-dollar contract with Michael Ovitz was unreasonable and one of the most generous ever, a compensation expert testified on Monday for shareholders suing the board to recoup as much as &#36;200 million.
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A shareholder lawsuit over the $140  million severance the Walt Disney Co. paid Michael Ovitz neared  its close on Friday, after months of testimony about one of the  ugliest chapters in Disney's history.
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Disney CEO Michael Eisner vividly described his side of the painful 1996 breakup with former Disney president Michael Ovitz in testimony at a shareholder lawsuit here Tuesday.