Reference no: EM131702273

Question: Janice signed an employment contract under which she agreed to be the CEO of a new company, which planned to provide some very advanced software programs to the financial services industry. She also signed a shareholders' agreement, which provided her with a substantial number of stock options, which could be exercised "at such time as the company surpassed $100 million in annual sales" provided "said employee is at that time an active member of the management team." The contract was for a term of three years, renewable by mutual agreement of the parties. At the end of the three-year term, the company notified Janice that it had decided not to renew her contract. Three months after Janice involuntarily left the company, a huge software deal with Wells Fargo pushed sales for the year past the $100 million mark. Does Janice have a breach of contract claim against her former employer? Does she have a wrongful discharge claim against the company?