Matter of Howard Industries, Inc.

OPINION

D. JOSEPH DeVITO, Bankruptcy Judge.

The above debtor in possession, Howard Industries, moves to reject, pursuant to 11 U.S.C. § 365, an alleged executory contract between the D.I.P. and one Louis Andreoli, a former employee. The contract, executed by the parties on May 31, 1977, contains, among others, the following provision:

Hicol, Inc. does further agree that, providing Andreoli remains employed by Hi-col, Inc. the respective monthly salary will be increased by $1,000.00 commencing August, 1980. Howard Industries, Inc. and Hicol, Inc. do hereby mutually agree that in the event that…