FEROLITO v. VULTAGGIO

5419, 600396/08, 590967/08.

85 A.D.3d 636 (2011)

925 N.Y.S.2d 506

2011 NY Slip Op 5426

JOHN M. FEROLITO, Individually and as Cotrustee for the JOHN FEROLITO, JR. GRANTOR TRUST, et al. Respondents, et al., Plaintiff, v. DOMENICK J. VULTAGGIO et al., Appellants. (And a Third-Party Action.)

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

Decided June 23, 2011.


The owners' agreement defines employment separation event (ESE) as "[t]he voluntary agreement of an Executive to deem himself subject to an [ESE]." The motion court correctly found that this definition presents "a totally subjective standard, to be defined only by [the executive]" (see e.g. Ghanem v Upchurch, 481 F.3d 222, 225 [5th Cir 2007] ["We interpret the phrase `for what he deems (to be good and sufficient cause)' as vesting...

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