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OILGEAR CO. v. HITT

No. 17-2534.

880 F.3d 337 (2018)

The OILGEAR COMPANY, Plaintiff-Appellee, v. Robert A. HITT, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided January 12, 2018.

Attorney(s) appearing for the Case

Kelsey C. Boehm , Thomas L. Shriner, Jr. , Attorneys, Foley & Lardner LLP, Milwaukee, WI, for Plaintiff-Appellee.

James Ryan Maloney , Attorney, Peterson, Johnson & Murray, S.C., Milwaukee, WI, for Defendant-Appellant.

Before Easterbrook and Sykes, Circuit Judges, and Bucklo, District Judge.

As Oilgear's CEO, Robert Hitt held restricted stock. When Hitt left his position in 2014, Oilgear exercised its option to repurchase the shares. Oilgear and Hitt agreed that he would receive $753,000: $108,000 immediately and $215,000 (plus interest) each June for the next three years. The 2015 installment was paid but...

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