1-2, Amalfe Cert., E ("Employment Agreement" or "Agreement").) Pursuant to the terms of the Employment Agreement, Drennan was to receive a fixed base salary year $300,000 and a quarterly incentive bonus.
Drennan's employment was the subject of a two-year Employment Agreement that was executed in December 2011. Futures Desk") on or about March 8, 2012. Drennan began working in the United States for ICAP as the Head of Financial Futures and Options - North America (hereinafter "U.S. According to its website, ICAP "provide a wide variety of electronic execution, broking, risk mitigation, messaging, and information services to wholesale market participants." Who we are,, (last visited Feb. 1 FACTUAL BACKGROUND AND PROCEDURAL HISTORY 1 The underlying arbitration arises from Drennan's employment at ICAP. For the reasons set forth below, the Court adopts Judge Dickson's R&R, and vacates the Arbitration Award. The Court decides this matter without oral argument pursuant to Rule 78 of the Federal Rules of Civil Procedure. 12, R&R.) Drennan timely filed objections to the R&R (ECF No.
Dickson's Report and Recommendation dated Novem("Report and Recommendation" or "R&R"), recommending that the undersigned grant Petitioner ICAP Corporates, LLC ("ICAP")'s motion to vacate the National Futures Association ("NFA")'s Arbitration Award and deny Respondent Michael Drennan ("Drennan")'s cross-motion to confirm the Arbitration Award relevant to the above-referenced matter. This matter comes before the Court by way of Magistrate Judge Joseph A. 19 NOT FOR PUBLICATION UNITED STATES DISTRICT COURT DISTRICT OF NEW JERSEY Civil Action No.: 14-5451 (JLL) (JAD) ICAP CORPORATES, LLC, Petitioner, OPINION V.
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