McDonald Investments, Inc. v. Fearn, Unpublished Decision (2-28-2002)

OPINION

On January 7, 2000, appellant, McDonald Investments, Inc., hired appellee, Kevin Fearn, as a broker. As a signing bonus, appellant paid appellee $385,000. In return, appellee signed five cognovit notes each in the amount of $77,000. One note would be forgiven in each of the first five full years of appellee's employment. If appellee remained with appellant for five full years, he would owe nothing on the cognovit notes.

On February 23, 2001, appellee resigned from his position with appellant. On June 7, 2001, appellant filed a complaint to obtain judgment on the four outstanding…