Court of Appeals for the Seventh Circuit October 16, 2002, 02-1175 (Stephen A. Gerow v. Rohm & Haas Company and Morton International, Inc.)

EASTERBROOK, Circuit Judge.

When Rohm & Haas acquired Morton International in 1999, it had to deal with the change-of-control agreements (often called Golden Parachutes) that Morton had awarded to its executives. Any change of control (a term carefully defined in the contracts) triggered a three-year “employment period” for Morton’s senior executives.