Preston Smith, Plaintiffs-Counter v. Charles Joplin, Defendant-Counter

W. EUGENE DAVIS, Circuit Judge:

Charles Joplin, the former President and Chief Executive Officer of the now-defunct Texas Bank & Trust Co., appeals a district court’s declaratory judgment finding Joplin’s employment contract with the bank’s former Board of Directors void and unenforceable under Texas law. We find no error and affirm.

I

In August 1986, the Board of Directors (“Directors”) of the Texas Bank & Trust Co., hired Charles Joplin as President and Chief Executive Officer of the Texas Bank & Trust Co. (“Bank”). During this period, the state-chartered bank was under supervision by the…