Guedj v. Dana

Order, Supreme Court, New York County (Charles Ramos, J.), entered November 20, 2001, which, insofar as appealed from, dismissed appellant’s third-party complaint and denied appellant’s motion for summary judgment dismissing plaintiffs claims based on the so-called New King Agreement, unanimously affirmed, without costs.

Appellant contends that the New King Agreement obligated New King, the parties’ closely held corporation, to pay plaintiff 20% of its profits but in no event less than $500 a week for 208 weeks after the agreement’s execution, that his only obligation thereunder was to…