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Summary judgment was granted to the plaintiff for deferred consulting fees and unreimbursed expenses. The court held the addendum deferred payment but did not make it indefinitely contingent on going public.
The trial judge rightly included the deferred portion of Bain's bonus in damages because those amounts were earned during the reasonable notice period, the EOP did not unambiguously remove the common law entitlement to compensation for earned bonuses, the bonuses were sufficiently tied to performance to be included for vacation pay calculations, the judgeâs lump sum approach to prejudgment interest was a defensible exercise of discretion, and the assessment of costs was reasonable and not an error in principle.
Source excerpt
The Court of Appeal upheld the finding that retiree medical benefits were contractual deferred compensation, but struck the declared remedies and confined relief to damages.
The Court held that the hypo-tax applied to income earned during employment and received in retirement, and therefore the Bank was entitled to continue deducting the hypo-tax; appeal dismissed.
Source excerpt
The court dismissed a founder-shareholderâs claim for unpaid fees and loans, finding deferred compensation had been mutually agreed and the loans were not payable ahead of other creditors.
The trial judge was entitled to treat the respondent's bonus and profit sharing as deferred compensation because of evidence of their treatment and substantial contribution to annual remuneration; the award for one week's earned but untaken vacation was proper; accordingly the appeal was dismissed and costs were fixed at $15,000 on a partial indemnity basis.
Source excerpt
Supplementary reasons correct a valuation math error, adjust equalization and deferred compensation, and set rules for motorhome sale and access travel costs.
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