We represented Francis D. John against Key Energy Services, Inc., a leading onshore well-servicing company where Mr. John served as Chairman and CEO for over a decade. Shortly after Key’s audit committee commissioned an independent investigation regarding certain accounting and internal controls matters, Mr. John was replaced as CEO. Key’s board of directors refused to pay Mr. John substantial severance and stock option benefits and purported to reserve the company’s right to later characterize the termination as having been for “cause” as defined in his employment agreement (a finding that would have deprived Mr. John of those benefits and stock options). Two years later, Key sent a notice of intention to treat Mr. John’s termination as for “cause,” purportedly based on allegations uncovered by the investigation. We sued the company for breach of Mr. John’s employment agreement and stock option agreements, disputing that the purported termination for “cause” was justified procedurally or substantively. Key maintained that no payment was due and filed a counterclaim demanding that Mr. John repay an approximately $10 million unamortized portion of a previously granted retention incentive bonus. In June 2007, we achieved a favorable pre-trial settlement on Mr. John’s behalf, the details of which are set forth in Key Energy’s June 26, 2007 Form 8-K filing with the SEC.