- 8 - claims and the counterclaim that have been asserted in * * * [the] arbitration are hereby dismissed with prejudice and without costs to either party”; Nomura agreed to pay petitioner $1,900,000, “less appropriate withholding for income, social security and other taxes * * * in full satisfaction for the resolution of the Settled Claims.” Nomura also agreed to donate, in the name of petitioner’s son, $50,000 to the Children’s Cancer Research Fund and $50,000 to the Children’s Cancer Research Program. In consideration of the settlement payment, petitioner released Nomura from liability for all existing claims (including the legal fees) and from a litany of other claims, both known and unknown, that petitioner might assert against Nomura in the future, including but not limited to indemnification of legal fees not yet incurred (the so-called “Settled Claims”). The settlement agreement does not allocate any portion of the settlement payment to petitioner’s legal fees or, in fact, to any of the claims asserted by petitioner in the arbitration proceeding. Nomura’s Tax Reporting Nomura issued to petitioner a 1998 Form W-2, Wage and Tax Statement, which reported as wages subject to tax withholding the $1.9 million cash payment made to petitioner pursuant to the settlement agreement.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011