We obtained a jury verdict for Guaranty Home Mortgage Corporation (GHMC), a market leader in mortgage lending currently licensed in 48 states, in the defense of a breach of contract action filed by the former CEO of Guaranty Home Mortgage Corporation regarding a stock appreciation rights agreement (SARS Agreement). The former CEO originally sued for $8,000,000, claiming: (i) he should recover $6,000,000 based on an alleged 10-year employment agreement, and (ii) he should recover $2,000,000 based on the SARS Agreement.  Guaranty Home Mortgage Corporation denied the existence of a 10-year employment agreement and that claim was dismissed on summary judgment.  Guaranty Home Mortgage Corporation also denied any obligation to pay any sums under the SARS Agreement based on its contention that the former CEO had been fired for cause, and the company asserted various counterclaims alleging that the former CEO has stolen from the company.  The SARS Agreement dispute was tried before a 12-person jury over the course of 6 days between September 25 through October 2, 2023 in Davidson County Circuit Court.  On October 2, after brief deliberation, the jury returned a verdict for GHMC, finding that the former CEO has been terminated for cause and awarding damages to GHMC of approximately $87,000 on the company’s counterclaim for conversion.