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HOLSEN v. MARSHALL & ILSLEY BANK

No. 175.

52 Wis.2d 281 (1971)

190 N.W.2d 189

HOLSEN and another, Respondents, v. MARSHALL & ILSLEY BANK, Trustee of the Frank H. Bercker Studios, Ltd. Employees' Profit Sharing & Retirement Plan, Appellant.

Supreme Court of Wisconsin.

Decided October 5, 1971.

Attorney(s) appearing for the Case

For the appellant there were briefs by Whyte, Hirschboeck, Minahan, Harding & Harland, attorneys, and Martin R. Browning, George B. Sletteland, and James D. Wing of counsel, all of Milwaukee, and oral argument by Mr. Sletteland.

For the respondents there was a brief by Cahill, Fox & Smith, attorneys, and John D. Cahill, William F. Fox, and Thomas E. Aul of counsel, and oral argument by Bruce C. O'Neill, all of Milwaukee.

ROBERT W. HANSEN, J.

The basic question before the trial court involved the 1958 amendment to the Frank H. Bercker Studios, Ltd. employees' profit sharing and retirement plan providing that a participating employee who "intends to engage directly or indirectly" in a competitive business shall receive only 50 percent of his vested participating interest in the plan at the severance date. The trial court held that this amendment was violative on its face of sec. 103...

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