S. Gleave

The plaintiff brought a motion to compel the defendants to produce a 12,000-page 'JDIMI Production Report with Lead Sheet' in a dispute over earn-out payments following the sale of an insurance business.

The defendants resisted, arguing the plaintiff was on a fishing expedition and that the documents contained confidential client information.

The court granted the motion, finding that the documents were relevant, easily producible, and that the defendants' confidentiality concerns could be addressed through a comprehensive confidentiality agreement.

A former senior banking executive sought recovery of forfeited restricted share units under an employer’s long-term compensation plan after resigning to start a hedge fund.

The plan provided that restricted share units would mature and be paid in cash three years after grant, but would be forfeited if the employee resigned before the maturity date.

The plaintiff argued that the forfeiture-on-resignation provision operated as an unreasonable restraint of trade and was therefore unenforceable.

The court held that the provision merely conditioned entitlement to deferred compensation on continued service and did not restrict the employee’s ability to work elsewhere.

Because the awards had not vested prior to maturity and the forfeiture was triggered solely by resignation rather than post-employment conduct, the clause was valid and enforceable.