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TENGTU INTERNATIONAL CORP. v. CHEUNG

24 A.D.3d 170 (2005)

805 N.Y.S.2d 71

TENGTU INTERNATIONAL CORP., Appellant, v. PAK KWAN CHEUNG et al., Respondents.

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

December 8, 2005.

Under the 1999 Consultant Agreement, respondent Cheung was named to a five-year term as chief executive officer (CEO) and chairman of appellant Tengtu's board of directors with incidental provisions for past, future and incentive compensation; respondent Comadex, a company controlled by Cheung was to receive three million shares of Tengtu's stock. The Agreement provided that in the event that Tengtu elected to terminate the Agreement prior to the five-year term for any reason...

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