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California Community Property Keyed to Carrillo, 11th Ed.
Marriage of Steinberger
Citation:
91 Cal. App. 4th 1449, 111 Cal. Rptr. 2d 521 (2001)Facts
Buff Jones and James Mark Steinberger married on April 30, 1988, and separated on June 14, 1997, after nine years of marriage. During the marriage, Buff was employed by Compuware Corporation as an executive director and vice-president. She signed an employment agreement in April 1995 that provided for salary continuation and stock option vesting if terminated for the company’s convenience. On November 10, 1997, approximately five months after separation, Buff was presented with termination papers. She negotiated a severance package that included twelve months of salary payments and continued vesting of stock options through November 10, 1998, in exchange for signing a release of legal claims and agreeing not to work for two primary competitors for three years. During the marriage, the parties purchased a loose diamond with community funds, which James later set in a ring and presented to Buff after their fifth anniversary with a congratulatory card. The trial court found the severance pay, stock options, and diamond ring to be Buff’s separate property.
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