Nina Cortell in Law360: Texas Cases to Watch in 2014
Cases that could create unprecedented liability for energy companies, redefine the enforceability of covenants not to compete and arbitration agreements, and change how public construction deals are structured are at the top of the preferred viewing list for Texas attorneys in 2014.
Here are some of the most important cases Texas lawyers say they’ll be watching in the new year...
Exxon Mobil Corp. v. Drennan
When William Drennan III left his position as vice president of the Americas for ExxonMobil Exploration Co. to take a position with Hess Corp., Exxon canceled his unvested employment incentive awards in accordance with a compensation agreement he had signed.
Drennan sued Exxon and lost after a jury found the agreement to be enforceable. But the First District Court of Appeals reversed the verdict in 2010, finding the “severe economic penalty” imposed on Drennan tantamount to a covenant not to compete that violated fundamental Texas public policy. Exxon wants the high court to overturn that ruling, arguing it places Texas “in a national minority.”
Exxon is represented by... Nina Cortell of Haynes and Boone, LLP.
Excerpted from Law360, January 2, 2014. To view full article, click here (subscription required).