In a Decision – Sowell-Zak v. Zak , (an "Unreported Decision") >> the Court Held:
The Appellate Division affirmed the termination alimony based upon retirement. The alimony was to terminate after receipt of the severance pay.
The Appellate Division determined that notwithstanding the Divorce Agreement’s provision of Permanent Alimony (and allowed for termination of alimony only upon either party's death or Wife's remarriage) , modification or termination of an alimony obligation was permitted upon a showing of changed circumstances that rendered the agreed upon terms no longer fair and equitable. The Appellate Division determined that there was no need for a plenary hearing. The Appellate Division found that the trial court also correctly declined to consider Husband's anticipated receipt of payments from the business for his interest in the companies in assessing Husband’ ability to pay alimony following his retirement.