NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION This opinion shall not "constitute precedent or be binding upon any court." Although it is posted on the internet, this opinion is binding only on the parties in the case and its use in other cases is limited. R.1:36-3. SUPERIOR COURT OF NEW JERSEY APPELLATE DIVISION DOCKET NO. A-1582-15T4 MIRIAM B. STENGER, Plaintiff-Respondent/ Cross-Appellant, v. JAMES R. STENGER, Defendant-Appellant/ Cross-Respondent. ________________________________________________ Argued March 16, 2017 – Decided September 19, 2017 Before Judges Espinosa and Guadagno. On appeal from the Superior Court of New Jersey, Chancery Division, Family Part, Morris County, Docket No. FM-14-1206-04. Jessica A. Bosch argued the cause for appellant/cross-respondent (Dalena & Bosch, LLC, attorneys; Ms. Bosch, on the briefs). Jennie L. Osborne argued the cause for respondent/cross-appellant (Einhorn, Harris, Ascher, Barbarito & Frost, PC, attorneys; Stephen P. Haller and Ms. Osborne, of counsel and on the briefs). PER CURIAM Defendant James R. Stenger appeals from an order entered on June 30, 2015 denying his motion for termination or modification of his alimony obligation to plaintiff Miriam B. Stenger. Defendant also appeals from the November 20, 2015 order denying his motion for reconsideration. Plaintiff cross-appeals from the portion of the November 20, 2015 order denying her motion for counsel fees and costs. The parties married in 1986, and divorced in 2005. Four children were born of the marriage, all of whom are now emancipated. During the marriage, defendant worked for plaintiff's father in his insurance business, F.A. Bonauto and Associates (FABA), in Morristown. Defendant's brother-in-law, Kenneth French, also worked at FABA. In 1986, defendant and French formed National Association Services, Inc. (NAS), providing wholesale and retail insurance services, including health insurance policies, to the general public. Plaintiff filed a complaint for divorce in 2004 and retained a forensic accountant to examine defendant's income and the value of his interest in NAS. The parties engaged in discovery, including depositions, interrogatories, and document production. In January 2005, after extensive negotiations, the parties entered into a property settlement agreement (PSA) which 2 A-1582-15T4 resolved all outstanding issues. On March 31, 2005, a final judgment of divorce was entered incorporating the PSA. Pursuant to the PSA, defendant was obligated to pay plaintiff permanent alimony of $162,000 per year which would terminate upon the death of either party or plaintiff's remarriage. Defendant was required to maintain a $1,000,000 life insurance policy, naming plaintiff as the beneficiary. Of significance to our discussion, the PSA provides: When the HUSBAND reaches age sixty-two (62), assuming the WIFE has not remarried or predeceased him, the parties shall negotiate an adjustment in the face amount of the insurance based on the cost of the premium, the HUSBAND's income, the WIFE's income at the time, if any, and actuarial considerations. If the parties cannot reach an agreement with respect to the amount of insurance coverage the HUSBAND is obligated to provide to the WIFE, either party may make application to the Superior Court of New Jersey, Chancery Division[.] The PSA ...

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