Legal Opinion
Nikitovich v. O'Neal
Appellate Division of the Supreme Court of the State of New York
Decided May 8, 2007PublishedCited by 5 opinions
1Opinion of the Court
Order, Supreme Court, New York County (Ira Gammerman, J.H.O.), entered April 24, 2006, which granted the motion of defendant Merrill Lynch & Co. pursuant to CPLR 3211 to dismiss the complaint in its entirety, unanimously affirmed, with costs.
The unambiguous terms of defendant Merrill Lynch’s Financial Advisor Capital Award Accumulation Plan (FACAAP) provided Merrill Lynch with sole discretion to forfeit FACAAP awards when an employee was terminated for misconduct. An employee has no enforceable right to compensation under a discretionary compensation or bonus plan and, accordingly, a…
2Cases cited7 opinions
- Swersky v. Dreyer & TraubAppellate Division of the Supreme Court of the State of New York · 1996
- De Petris v. Union Settlement Ass'nNew York Court of Appeals · 1995
- Skillgames v. BrodyAppellate Division of the Supreme Court of the State of New York · 2003
- Coppola v. Applied Electric Corp.Appellate Division of the Supreme Court of the State of New York · 2001
- Ullmann v. Norma Kamali, Inc.Appellate Division of the Supreme Court of the State of New York · 1994
2 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Security Plans, Inc. v. Cuna Mutual Insurance SocietyCourt of Appeals for the Second Circuit · 2014
- Meijer, Inc. v. Abbott LaboratoriesDistrict Court, N.D. California · 2008
- Barber v. Deutsche Bank Securities, Inc.Appellate Division of the Supreme Court of the State of New York · 2013
- Barber v. Deutsche Bank Securities, Inc.Appellate Division of the Supreme Court of the State of New York · 2013
- Security Plans v. CUNA MutualCourt of Appeals for the Second Circuit · 2014