Monsanto Co. v. Boustany

We grant the Respondents’ motion for rehearing. We withdraw our opinion dated October 18, 2001, and substitute the following in its place.

In this case we are called upon to construe an employee incentive plan and related stock option certificates. We must determine whether “termination of employment” occurred within the meaning of the incentive plan when the parent company sold all the stock of its subsidiary to another company and the employees continued to work for the subsidiary. The trial court granted summary judgment for the parent company on all claims, which consisted of breach of…