Ex-Vivimed Officer Wins $460,000 in Executive Compensation Suit

Vivimed Labs Inc. USA owes its former chief operating officer $460,000 in bonuses and retirement payments, but not special compensation tied to the partial sale of the officer’s division, a New Jersey federal judge ruled.

George Polson’s four-year employment contract entitles him to $100,000 in annual guaranteed bonuses, Judge Zahid N. Quraishi of the US District Court for the District of New Jersey said in a May 26 unpublished opinion. He’s also owed $15,000 per year in compensation meant to take the place of a 401(k) plan, Quraishi said.

Vivimed, a chemical and pharmaceutical company, argued that these bonuses ...