Legal Opinion
Schmidt v. Park Avenue Bank, N. A.
New York Supreme Court
Decided March 8, 1990PublishedCited by 6 opinions
1Opinion of the Court
OPINION OF THE COURT
David B. Saxe, J.
This action between a former bank vice-president and his former employer, the Park Avenue Bank (the Bank), raises, inter alia, the issue of whether a "golden parachute” provision in a bank officer’s employment contract violates the National Bank Act provision that a bank may dismiss its officers "at pleasure”.
On August 26, 1987, the plaintiff and the Bank entered into a written employment agreement (the Agreement) by which *1044plaintiff was employed by the Bank as executive vice-president and deputy to the chief executive officer, at an annual salary of…
2Cases cited8 opinions
- Rovello v. Orofino Realty Co.New York Court of Appeals · 1976
- Koshland v. HelveringSupreme Court of the United States · 1936
- Mills Music, Inc. v. SnyderSupreme Court of the United States · 1985
- Kemper v. First Nat'l Bk. in NewtonAppellate Court of Illinois · 1981
- Copeland v. Melrose National BankAppellate Division of the Supreme Court of the State of New York · 1930
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3Cited by6 opinions
- Kerndt v. Rolling Hills National BankSupreme Court of Iowa · 1997
- Mardula v. Rancho Dominguez BankCalifornia Court of Appeal · 1996
- Ewert v. Drexel National BankAppellate Court of Illinois · 1995
- Stockwell v. Citizens National Bank & Trust Co.District Court of Appeal of Florida · 1995
- Doe v. ABC Corp.Louisiana Court of Appeal · 2007
1 more not listed; retrieve them via the Exa API.