By its plain terms, defendant's 2000 sales incentive program did not expire until sale of its subsidiary; since defendant did not make payments and its defenses fail, it breached the plan.
May 18, 2011 at 01:45 PM
1 minute read
Nye v. Ingersoll Rand Co., Civ. No. 08-3481, Assoc. Civil Action Nos. 08-4260 and 08-5371; U.S. District Court (DNJ); opinion by Debevoise, S.U.S.D.J.; filed May 10, 2011. DDS 11-7-xxxx [28 pp.]
In this consolidated action, plaintiffs, former employees of the Dresser-Rand Company (DR), a former subsidiary of defendant Ingersoll-Rand Company (IR), allege that IR breached the terms of a sales incentive plan (2000 SIP) when it failed to pay them benefits due on the sale of DR.
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