Harvey v. Missouri Valley Electric Co.

COIL, Commissioner.

This case involves the construction of a corporate resolution providing for “profit-sharing bonuses.” Trial below by the court on an agreed statement of facts resulted in judgment for plaintiff for the amount admittedly due and tendered by defendant. Plaintiff-appellant, prior to and including 1948 and until June 15, 1951, was a director, vice-president, and stockholder in defendant-respondent corporation. For the period involved, 95% of defendant’s outstanding stock was owned by R. B. Brown-lee, president, and J. M. Oehler, secretary, husband and wife. The corporation was…