Opinion ID: 3011980
Heading Depth: 2
Heading Rank: 4

Heading: $100,000 on or before 6/1/2007.

Text: 2. Ronald Patel shall provide security for the payment set forth in paragraph number one hereinabove as follows: . . . B. The payment of $10,000.00, due on or before 1/30/2000 shall be secured by the interest of Ronald Patel in the KnightRidder Inc. Investment Savings 401(k) Plan, pursuant to Plan rules and regulations. C. The payment of $20,000.00, due on or before 1/30/2001, shall be secured by Ronald Patel’s Knight-Ridder, Inc. stock options exercisable in 2000. Ronald Patel shall give Susan F. Winters prior notice of the exercise date and make payment upon his receipt of the proceeds from the exercise of said stock options. D. The payment of $100,000.00, due on or before 6/1/2007, shall be secured by Ronald Patel’s interest in the KnightRidder Inc. Investment Savings 401(k) Plan, pursuant to Plan rules and regulations. E. Ronald Patel shall not borrow, withdraw, or reduce the balance of his interest in the Knight-Ridder Inc. Investment Savings 401(k) Plan below the amount set forth herein until Ronald Patel’s obligation to Susan F. Winters under this stipulation of settlement are paid in full. (1)$100,000.00 minimum account balance (net of loan(s)) until 1/1/2001. (2)$130,000.00 minimum account balance (net of loan(s)) after 1/1/2001 until Susan F. Winters is paid in full. 3. Ronald Patel shall provide and pay for a policy of insurance on his life, naming Susan Winters the beneficiary in an amount sufficient to satisfy the remaining balance due pursuant to paragraph one of this Stipulation and Settlement. . . . 18. . . . Ronald Patel hereby waives any claim which he may have to seek consolidation of the Pennsylvania litigation with this matter or to assert the defense of the New Jersey Entire Controversy Doctrine in this action. Patel and Frangipanni married in March 1999. Patel then named Frangipanni as his beneficiary under the Plan. On January 7, 2000, Patel died. One month later, on February 7, 2000, the Plan honored Frangipanni’s request that Patel’s 401(k) benefits be paid to her. On February 24, 2000, over thirteen months after the Consent Decree was entered, Borger wrote to Kutrip, as Plan Administrator, submitting a copy of the Consent Decree and inquiring whether Patel’s 401(k) funds had been disbursed. On March 30th, Kutrip responded advising that Mr. Patel’s interest in the Investment Savings Plan does not, and did not ever, serve as security for any amount due Ms. Winters from Mr. Patel. App. 363. In May of 2000, the invasion of privacy action settled. The integrated Settlement Agreement contained mutual general releases which released all, and all manner of, claims actions and causes of action, suits, . . . claims and demands whatsoever whether arising in law or equity, in contract or tort, including but not limited to, all claim set forth or which could have been set forth arising from or with respect to ... Susan Winters v. Philadelphia Newspapers, Inc., et al., [and several newspaper columns] ..., whether known or unknown against Releasees from the beginning of the world to the date of these presents. App. 134.