Omni Will Pay $1M To Settle Compensation Claims

Law360, New York (April 30, 2008, 12:00 AM EDT) -- Omni Energy Services Corp. has agreed to pay Executive Vice President Darcy Klug more than $1 million to settle a lawsuit alleging that company directors schemed to defraud him of his due compensation, the company announced Tuesday.

Omni Energy has agreed to pay Klug $125,000 immediately and a total of $1.13 million over a period of time. The oil services company said the funds have been placed in a trust for payout.

Under the settlement, Klug's employment agreement with the company was terminated, along with his...
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