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GEROW v. ROHM & HAAS CO.

No. 02-1175.

308 F.3d 721 (2002)

Stephen A. GEROW, Plaintiff-Appellant, v. ROHM & HAAS COMPANY and Morton International, Inc., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided October 16, 2002.

Attorney(s) appearing for the Case

Barry Sullivan (argued), David K. Haase, Jenner & Block, Chicago, IL, for plaintiff-appellant.

Steven P. Handler (argued), McDermott, Will & Emery, Chicago, IL, John G. Harkins, Jr., Harkins Cunningham, Philadelphia, PA, for defendants-appellees.

Before EASTERBROOK, RIPPLE, and KANNE, Circuit Judges.

EASTERBROOK, Circuit Judge.

When Rohm & Haas acquired Morton International in 1999, it had to deal with the change-of-control agreements (often called Golden Parachutes) that Morton had awarded to its executives. Any change of control (a term carefully defined in the contracts) triggered a three-year "employment period" for Morton's senior executives. During this span managers' positions, salary, fringe benefits, and perquisites were protected against erosion...

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