SYSTEMATICS, INC. v. MITCHELL

No. 5-6157.

491 S.W.2d 40 (1973)

SYSTEMATICS, INC., Appellant, v. Don B. MITCHELL, Appellee.

Supreme Court of Arkansas.

Rehearing Denied March 5, 1973.


Attorney(s) appearing for the Case

Smith, Williams, Friday, Eldredge & Clark, by Jerry T. Light and Lewis H. Mathis, Little Rock, for appellant.

Walter Niblock and Bobby L. Odom of Niblock & Hipp, Fayetteville, for appellee.


GEORGE ROSE SMITH, Justice.

On June 30, 1969, the appellant, Systematics, Inc., a comparatively young company supplying services based upon data processing, issued to the appellee, an employee, 15,000 shares of Systematics stock at a price of ten cents a share. The stock was issued pursuant to a restrictive agreement by which Mitchell was required to offer to resell the stock to Systematics, at the same price, if he were discharged for cause.

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