| Louis Blair 2006-02-26, 7:33 pm |
| Phil Innes wrote (Wed, 22 Feb 2006 23:07:23 GMT):
quote:
> Shall we assume this will be a similar to [Joel Channing's]
> previous offer to post his own analysis of the ChessCafe deal
_
Joel Channing DID at one point offer to "have [USCF] staff
prepare [for Larry Parr] a month-by-month cash projection
of sales figures and comission payments from the beginning
of the Chesscafe contract until [the date of the amendment]."
_
This turned out to not be quite what Larry Parr wanted.
("a calculation [for the full duration of the first contract],
broken down by month, of what Hanon Russell would
have owed under the first contract as opposed to what
he owes under the new contract.")
_
Joel Channing suggested that he "address any specific
ChessCafe information requests to the ED", and also
added:
_
"the settlement provided that:
_
(a) ChessCafe would pay us what they had
withheld in comissions, plus
_
(b) 50% of what they owed us under the
guarantee (the guarantee provided that if
total comissions were less than $350,000
at the end of the year, they would pay us
the difference), and that
_
(c) we would forgive them the other 50%.
_
Of the 50% they agreed to pay, 25% has
been paid and 25% is due late this year."
- Joel Channing (15 Jan 2006 13:47:15 -0800)
|