View cases - Stewart McKelvey

Page: 3failure to observe, perform or carry out any of the obligations under the employmentcontract referred to previously.[4] In the fall of 2004 and in 2005 negotiations took place for Ms. Cormier topurchase the Nordqvists’ shares in the Company. These negotiations eventually brokedown and on October 17 th , 2005 a letter was sent from the Nordqvists’ solicitor to Ms.Cormier’s solicitor indicating that the Nordqvists now wished to purchase Ms.Cormier’s shares in the Company. It does not appear from the materials that havebeen filed that Ms. Cormier was interested in this.2010 NSSC 252 (CanLII)[5] On October 28 th , 2005 a meeting was held for Ms. Cormier to review theCompany’s financial records. A dispute arose between Ms. Nordqvist and Ms.Cormier at this meeting and it was terminated. Shortly thereafter, Ms. Cormierreceived notice of a directors’ meeting dated October 28 th , 2005. This notice indicatedthat a meeting of the Board of Directors of the Company would be held on October31 st , 2005 to discuss the performance of Ms. Cormier as an employee and to determinewhether her employment should be terminated. Ms. Cormier attended that meetingand was advised by the Nordqvists that her employment was being terminated forcause. Shortly thereafter, the Nordqvists’ solicitor wrote to Ms. Cormier’s solicitorstating “As Ms. Cormier’s employment with the Company has been terminated, ourclients intend to invoke their right to purchase her shares pursuant to Article 9 of theShareholders’ Agreement (the “Agreement”).”[6] After Ms. Cormier’s employment was terminated the Nordqvists became awareof an employment arrangement that Ms. Cormier had put in place with one of the