JAFFE v. PARAMOUNT


222 A.D.2d 17 (1996)

644 N.Y.S.2d 43

Stanley R. Jaffe, Appellant, v. Paramount Communications, Inc., et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

June 18, 1996


Attorney(s) appearing for the Case

Louis A. Craco of counsel (Joseph T. Baio, Martin Klotz and Colin F. Bell on the brief; Willkie Farr & Gallagher, attorneys), for appellant.

Stuart J. Baskin of counsel (Jerome S. Fortinsky and Edwina F. Martin on the brief; Shearman & Sterling, attorneys), for respondents.

SULLIVAN, J. P., KUPFERMAN and WILLIAMS, JJ., concur.


NARDELLI, J.

The plaintiff was an executive who received a large salary, bonuses and stock options as part of his employment contract with defendant Paramount. Unlike many of his contemporaries, when he and the corporation finally parted ways, he did not receive a "golden parachute." However, he did receive exactly what he had bargained for. If he had tendered his 30-day notice of termination, he would have been...

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