Alain and Monique Massot - Page 5

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            was terminated, see infra.)  This promotion was announced in a                             
            general distribution memorandum.                                                           
                  During petitioner’s tenure at Millipore, the company grew from                       
            approximately $24 million in annual sales (in 1971) to $766 million                        
            (by 1992).  Petitioner played a significant role in building the                           
                  As of early 1992, petitioner viewed Millipore and its 5,000                          
            worldwide employees like family.  Likewise, he was highly regarded                         
            in the company.  Petitioner anticipated that eventually he would                           
            become president of Millipore.                                                             
            Petitioner’s Termination                                                                   
                  During an early morning meeting on September 22, 1992, John                          
            Gilmartin, chief executive officer and chairman of the board of                            
            Millipore, informed petitioner that his employment with Millipore                          
            was being terminated effective immediately; Mr. Gilmartin did not                          
            provide petitioner with any reason for this decision.2  Petitioner                         
            was shocked; he became pale and began trembling.  Mr. Gilmartin                            
            handed petitioner a letter containing Millipore’s proposed                                 
            termination offer.  Under the provisions of that letter, petitioner                        
            would continue to receive his salary, benefits, and exercise                               
            certain stock options for a period of 18 months after his departure                        

                  2     The procedure Mr. Gilmartin followed in terminating                            
            petitioner was not the procedure Millipore managers had been                               
            instructed to follow.  These procedures included giving the                                
            employee notice and an explanation for the termination.                                    

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