Implied Contract Exceptions - Texas Examples?

My California-based company announced that they were shutting down our Texas facility. Two VPs come in later and indicate that Texas R&D will remain indefinitely - that is was only the manufacturing function that was being consolidated. They told all R&D staff they have permanent employment. Subsequently, all R&D staff received stock options that vest over 4 years. One director even confronted all R&D people individually and asked them to either commit to stay or leave.

Two-three months later, they company gave all R&D staff termination dates.

Would the promise of ongoing employment accompanied by stock option grants be an implied contract exception in Texas? Are any exceptions possible in Texas?

1 answer  |  asked Jul 17, 2002 10:05 AM [EST]  |  applies to Texas

Answers (1)

Margaret A. Harris
Slim to Nil

I think you should consult with a lawyer in Austin, even if it means paying a consultation fee. There is not a high likelihood of success, but you should learn the pros and cons of that argument before making a final decision.

posted by Margaret A. Harris  |  Jul 17, 2002 10:59 AM [EST]

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