PHOENIX, Arizona, June 29. ERIK Vendt has settled his counter claim against TYR after winning a summary judgment in TYR's original claim against Vendt for breach of contract. The settlement amount was not disclosed.
In a decision handed down by Judge James V. Selna in California in late March, Vendt earned a summary judgment as the defendant in a breach of contract case filed by TYR as part of its failed lawsuits against USA Swimming, Speedo and Mark Schubert.
Judge Selna ruled in favor of Vendt, a two-time Olympic silver medalist in the 400 IM in 2000 and 2004, primarily because of two clauses located in his contract. The first relates to Vendt's ability to wear a competing brand:
Non-TYR Product. Notwithstanding anything herein to the contrary, in the event that VENDT competes in any competition suit other than a TYR Product, then VENDT will not be entitled to any base compensation or any bonus for these performances, unless TYR is unable to provide a competition suit of reasonable comparability to the marketplace.
The second clause relates only to TYR's ability to terminate the contract if Vendt wore a competing brand. Just wearing a competing brand is not grounds for a breach of contract according to the agreement, as it only gave TYR the right to elect to terminate the contract if TYR deemed to do so if Vendt wore a competing brand.