Opinions Dec. 17, 2015
Indiana Supreme Court
The following opinion was issued after IL deadline Wednesday.
AM General LLC v. James A. Armour
71S03-1507-PL-407
Civil plenary. Affirms trial court order in favor or Armour, awarding him the remaining portion of his long-term incentive plan payments. Holds that the promissory note AM General provided to Armour as compensation under the plan after he retired did not satisfy the requirement of “payment” under the disputed employment contract. As a matter of law, payment under the contract requires the benefit to be paid in cash or a cash equivalent.