Mr. Wallace was replaced by the company’s founder and chairman, Marty Rash, as CEO late last month, according to the report. When the organization announced the change at the top, it said Mr. Wallace resigned. But in his lawsuit, Mr. Wallace alleges the company made that claim to avoid the contractual obligation to provide his annual bonus and continued payments for his termination without cause.
Mr. Wallace filed suit Jan. 22 in Williamson County Chancery Court. He is seeking damages including but not limited to the monetary value of payments for termination without cause, which he claims were built into his contract.
RegionalCare Vice President of Communications Jeff Atwood said the system is “surprised and disappointed” by the lawsuit, according to the report. He said the system will “defend the matter rigorously and make sure that the facts are the facts.”
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