Baxter, at Age 45, Was Hired as the General Manager

question 82

True/False

Baxter, at age 45, was hired as the general manager of the CountrySide Shipping Company by Carrothers, the company president. The initial contract of employment was for a three-year term and was embodied in an exchange of letters between Baxter and Carrothers in 2008. At the end of the three-year term, Baxter continued on as general manager, receiving annual increases in salary, executive profit sharing, pension contributions, and discretionary bonuses, if business was exceptionally good in a given year. In January 2020, for no apparent reason, Carrothers called Baxter into his office, and told him his services were no longer required. Carrothers offered Baxter a week's salary as "severance pay." At the time of termination, Baxter was earning a salary of $70,000 per year, received company paid pension contributions of $5,000 annually, and, in 2019, had received $3,000 from profits shared, and a $5,000 bonus. The type of action which Baxter might bring against the company would be for wrongful dismissal.

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Definitions:

Cells

The basic structural, functional, and biological units of all known living organisms, acting as the building blocks of life.

Vitamins

Organic compounds that are necessary in small amounts for the body to maintain health, usually obtained from food, as most cannot be synthesized by the body.

Coenzymes

Non-protein chemical compounds that bind to an enzyme and help it to catalyze a reaction.

Reversible Inhibitor

A substance that forms weak bonds with an enzyme, temporarily interfering with its function; a reversible inhibitor is either competitive or noncompetitive. Compare with irreversible inhibitor.