Anna Feinberg began working for the Pfeiffer Company in 1965 at age seventeen. By 2002 she had attained the position of bookkeeper office manager and
assistant treasurer. In appreciation for her skill dedication and long years of service the Pfeiffer Board of Directors resolved to increase Feinbergs
monthly salary to $1400 and to create for her a retirement plan. The plan allowed that Feinberg would be given the privilege of retiring from active duty at
any time she chose and that she would receive retirement pay of $700 per month although the Board expressed the hope that Feinberg would continue to serve the
company for many years. Feinberg however chose to retire two years later in 2004. The Pfeiffer Company paid Feinberg her retirement pay until 2011. The
company discontinued payments alleging that no contract had been made by the Board of Directors as there had been no consideration paid by Feinberg and that
the resolution was merely a promise to make a gift. Feinberg sued. Is the promise supported by consideration? Is the promise enforceable? Explain.
