The plaintiff, a 59-year-old senior executive with 14 years of service, was terminated without cause.
On a motion for summary judgment, the court determined the reasonable notice period to be 18 months.
The court held that the plaintiff was entitled to damages for his lost Sales Target Incentives (STI) during the notice period, as the policy did not unambiguously exclude it.
However, the court found that the Long Term Incentives (LTI) agreement unambiguously excluded recovery for unvested Restricted Stock Units.
The court ordered a trust and accounting mechanism for the remainder of the notice period to account for any mitigation earnings.
