Rok settles out of court in dispute with Mark Kay over 拢5.025m claim for bonus payments
ROK has paid a former director 拢1.25m in a dispute over bonus payments.
The out of court settlement came after former director Mark Kay issued a claim of 拢5.025m for amounts allegedly owed under bonus provisions in his contract.
The 好色先生TV and maintenance services provider said it paid 拢815,000 in full and final settlement of legal proceedings, plus interest, legal fees and termination of Kay鈥檚 contract, which amounted to 拢1.25m.
Kay ceased to be a director of Rok in October 2004.
Stephen Pettit, chairman of Rok said it was in the shareholders鈥� best interests to avoid a potentially lengthy court case. He said: 鈥淭he settlement鈥� enables the board to put this issue firmly behind us,鈥� he said.
