Baxter,at Age 45,was Hired as the General Manager of the CountrySide

question 58

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 1982.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,1994,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 1993,had received $3,000 from profits shared,and a $5,000 bonus.If Baxter wished to have his job back,rather than receive damages,he could ask the court for an award of specific performance.

---

Definitions:

Delivery Cycle Time

The elapsed time from when a customer order is received until the finished goods are shipped.

Performance Measure

A quantifiable indicator used to evaluate the efficiency, performance, or success of an organization, employee, or process in achieving objectives.

Market Share Percentage

Market share percentage is the portion of a market controlled by a particular company, product, or brand, expressed as a percentage, indicative of competitiveness and market dominance.

Performance Measure

Metrics or indicators used to evaluate the efficiency, effectiveness, or success of an organization's activities.