Ballin v. Ballin

—Order unanimously modified on the law and as modified affirmed without costs in accordance with the following Memorandum: In 1969, the parties entered into a separation agreement that provided for the payment of $150,000 to plaintiff in satisfaction of any obligation of defendant to pay alimony. The agreement also provided that the net proceeds from sale of the marital residence would be paid in partial satisfaction and that the balance would be paid in annual payments of $20,000. However, if one third of defendant’s net income, as defined in the agreement, were less than $20,000 in any one…