04 May '11, 8pm

Monte Cahn Sues Oversee.net Over $13 Million Incentive Plan

Moniker founder files suit against acquirer. Moniker founder Monte Cahn has sued Oversee.net along with its current CEO Jeff Kupietzky and founder Lawrence Ng over a $13 million inventive plan. Cahn sold his Moniker domain name registrar and related businesses to Seevast in 2005. In 2007 Oversee.net approached Seevast and Moniker about buying the business, according to the complaint. It agreed to a purchase price of $35 million, but allegedly said it would not purchase the business without Cahn committing to join Oversee.net for at least three years. The suit says that Oversee.net offered a Management Incentive Plan (MIP) for up to $13 million for Cahn to join the company. Cahn would also receive 300k shares in Oversee.net, $250k base salary, a signing bonus of $75k, yearly retention bonus of $75k, and other incentives including participation in an equity incentive plan. C...

Full article: http://domainnamewire.com/2011/05/04/monte-cahn-sues-over...

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dnjournal.com 05 May '11, 10pm

"Predictably, the path Monte Cahn has chosen is needlessly confrontational and provocative. Regrettably, his perceived dis...