Shapero

MEMORANDUM

Chapter 7 debtor, Dr. Sanford M. Shapero, appeals from an order of the district court affirming the bankruptcy court’s decision that Shapero could not exempt the benefits he was to receive under a Special Executive Retirement Agreement (SERA) from his bankruptcy estate as an exempt retirement plan. The district court had jurisdiction pursuant to 28 U.S.C. § 158 (a); this court has jurisdiction pursuant to 28 U.S.C. § 158 (d) and 28 U.S.C. § 1291 . We affirm.

The facts are well known to the parties and will be recited only as necessary to explain our decision. In exchange for his resignation as president and CEO of the City of Hope National Medical Center (COH), Shapero and COH executed a Settlement Agreement and Mutual Release. Shapero’s breach of the Settlement Agreement’s confidentiality clause led to state court litigation where an arbitrator deter *710 mined that Shapero owed COH approximately $1.1 million. The arbitrator excused COH from any further liabilities to pay the installment payments called for in the Settlement Agreement but found, however, that COH was required to pay his retirement benefits under the SERA, as well as reimbursements for certain tax…