The Financial Post reports in its Friday edition David Berry and his former employer, Bank of Nova Scotia, have settled. The Post's Barry Critchley writes the settlement comes almost 10 years after Mr. Berry, the former head of preferred-share trading at Scotia and at one point the bank's highest-paid employee, was terminated. Terms of the settlement are confidential. Mr. Berry rose to prominence at Scotia about 15 years ago, when he was given responsibility for the bank's preferred-share trading activities. His contract was structured in a way that rewarded him based on the performance of his group. Under the terms of that contract, Mr. Berry received a 20-per-cent share of the profits, subject to a cap of $15-million. Eventually Mr. Berry expanded Scotia's preferred-share business to 60-per-cent market share, and he received the maximum compensation his contract allowed. In early 2005, difficulties arose in the setting of a new employment contract. Mr. Berry was reportedly unhappy with the new terms and refused to sign. A few months later Mr. Berry was terminated over what his employer deemed to be a regulatory breach regarding certain trades. In late 2006, Mr. Berry filed a $100-million wrongful dismissal lawsuit.