Common Contracts
1 similar null contracts
ContractJune 14th, 2012
JUNE 14, 2012 VOLUME 8, NUMBER 3 OPTION AGREEMENT TRUMPS EMPLOYMENT ”The court concluded AGREEMENT By that even assuming John L. Utz that the executive Utz & Miller, LLCjutz@utzmiller.com and Chevron reached an express Disputes about the late exercise of options are a dime a dozen. But a recent unreported case caught our eye because of a twist we found interesting. The case is Porkert v. Chevron Corp., 2012 U.S. App. LEXIS 710 (4th Cir. 2012). employment agreement . . . permitting exercise later than the three month deadline under the LTIP, . . . the option grantseffectively modified In Porkert, an executive asserted that the final version of his employment agreement included a provision permitting him to exercise stock options for 10 years from the date he received the options, even if he terminated employment earlier. The federal appeals court (the Fourth Circuit) assumed the executive’s assertion as to the employment agreement was accurate even though the executive did no
