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HOUSTON OIL FIELD MATERIAL COMPANY v. STUARD

No. 25960.

406 F.2d 1052 (1969)

HOUSTON OIL FIELD MATERIAL COMPANY, Inc. (now by Amendment of Charter: International Systems & Controls Corporation, Inc.), Appellant, v. R. M. STUARD, Appellee.

United States Court of Appeals Fifth Circuit.

February 11, 1969.

Attorney(s) appearing for the Case

Roland D. Marble, Jackson, Miss., Roger A. Langenheim, Kansas City, Mo., for appellant.

M. B. Montgomery, Jackson, Miss., Tullius Brady, Brookhaven, Miss., for appellee.

Before WISDOM, THORNBERRY and GOLDBERG, Circuit Judges.

THORNBERRY, Circuit Judge:

The Houston Oil Field Material Company (Homco) appeals from a judgment on a $28,000 jury verdict in favor of R. M. Stuard, who served as manager of the company's office in Brookhaven, Mississippi from 1952 until September 1, 1966. On May 13, 1963, appellant gave Stuard a stock option to purchase 1,000 shares of Homco stock at $6 per share, two conditions being that appellee could not exercise his option for at least a year and could not...

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