Hot off the heels of Todd Beard committing career suicide and resigning from Affliction, we now have another fight executive (if you can consider Beard a ‘fight executive’) stepping down from his company. This time it’s the IFL’s Jay Larkin:
On November 10, 2008, International Fight League, Inc. (the “Company”) and Jay Larkin, the Company’s President and Interim Chief Executive Officer, entered into an agreement providing for Mr. Larkin’s resignation from his positions and employment with the Company, effective November 1, 2008. Pursuant to the agreement, the Company has agreed to pay Mr. Larkin a one-time payment for $20,000 and will also be paying the premiums for medical insurance coverage for Mr. Larkin until the earlier of April 30, 2009 or the date on which Mr. Larkin becomes eligible for group medical insurance through an employer or professional affiliation other than the Company. As part of the agreement, all of Mr. Larkin’s stock options for the Company’s stock automatically terminated. The agreement also has customary terms regarding confidentiality, cooperation, release of claims and covenants not to sue.
No scandal here, though. Larkin was sticking around to sell off the IFL’s remaining peices, and with HDNet picking up their video library, that’s pretty much that. Behold: the final death rattle of the IFL. Now just be prepared for reruns on HDNet.