- 11 - claims. The personal injury allocation increased to $94,500 in a June 27, 1994, draft agreement, $95,000 in a July 1, 1994, and succeeding draft agreements, and to $116,000 in the December 22, 1994, final agreement. The final agreement provided for a lump-sum payment of $116,000 to be paid by December 29, 1994, (less $25,000 advanced to petitioner on December 19, 1994) and one payment of $3,333.33 to be paid on January 1, 1995. Petitioner’s retirement date, per the final agreement, was February 1, 1995. In addition, the agreement did not require the repayment of the $48,420 advanced to petitioner prior to the final agreement. Ultimately, petitioner received $167,753.33 ($116,000.00, $48,420.00, and $3,333.33). The final agreement, in pertinent part, contains the following personal injury clause: in consideration of Mr. Knoll’s release of all claims for compensatory damages, defamation, intentional and negligent infliction of emotional distress, loss and diminishment of personal reputation and all other claims of personal injury, including, but not limited to those described in subparagraph n of paragraph 1 of this Agreement, the Firm will pay Mr. Knoll a lump sum payment in the amount of $116,000 * * * . Subparagraph n of paragraph 1 of the final agreement was a general release, the language of which was substantially unchanged from the time of the first draft through the final agreement. In particular, the general release paragraph was notPage: 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