Net profits accrued as of date of termination

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Employee entered into a written contract with Employer that provided, among other things, that Employee would manage a business division for Employer in exchange for half of the division's net profits, and if the division was sold during the term of the agreement, Employee would receive half of the net sale proceeds. In January, 2010, Employee was told that a contract had been made to sell the division. In February, 2010, Employer fired Employee without prior notice. The division sale was completed in March 2010, and Employer refused to pay Employee any part of the net sale proceeds or any accrued net profits. Employee sued to collect her share of the net proceeds of the sale and the net profits accrued as of the date of termination.

Question 1:

Is Employee entitled to any portion of the net sales proceeds? If so, why? If not, why not?

Question 2:

Is Employee entitled to any portion of the accrued net profits? If so, why? If not, why not?

Reference no: EM13148995

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