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UBS SEC. LLC v. RAE SYS. INC.

8800, 652606/11.

101 A.D.3d 510 (2012)

954 N.Y.S.2d 878

2012 NY Slip Op 8652

UBS SECURITIES LLC, Respondent-Appellant, v. RAE SYSTEMS INC., Appellant-Respondent.

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

December 13, 2012.

Contrary to the finding of the IAS court, the clause at issue, which provides that defendant "may" in its "sole discretion" pay plaintiff a bonus based on an assessment of its performance, was not a conditional promise, but an entirely discretionary clause that imposed no obligation on defendant to pay (Hunter v Deutsche Bank AG, N.Y. Branch, 56 A.D.3d 274 [1st Dept 2008]). Nor did the "approval" of the bonus by defendant's special...

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