Reference no: EM133576389

Summerize Marco Rivas had been employed by the investment brokers firm Big Bucks in New York for 20 years when he died on June 21, 2022. At that time, he was working under a yearly employment contract entitling him to an annual salary of $416,000. In addition, if he was still in the firm's employ on September 30, 2022, the end of its fiscal year, he would be entitled to an additional amount equal to .55% of the firm's net profits. During the latter part of his employment Marco had required hospitalization more than 20 times and had undergone seven major operations. On many of these occasions partners of Big Bucks called Juanita Rivas, Marco's spouse, to offer financial assistance. The couple always declined, preferring to manage on their own. Most of the Big Bucks partners attended Marco Rivas's funeral, including two having flown in from Chicago despite a blizzard. Some of the Big Bucks partners later suggested that the Rivas' son, Jimmy, come to work for the firm, which he did for a while. In 2022, Big Bucks was managed by an administrative committee consisting of seven of the general partners. At a meeting of this committee held shortly.