Manufacturing company accused by former employee of not providing stock options, other compensation

GRETNA – The former vice president and national sales manager of a tankless water heater manufacturer is suing his former employer for breach of contract after the company allegedly did not provide him with promised stock options and failed to provide him full compensation.

William Hudson filed suit against Seisco International Limited in the 24th Judicial District Court on Feb. 12.

Hudson alleges he signed an employment contract with Seisco, a manufacturer of tankless water heaters, on Oct. 10, 2010 for a base salary of $96,000 plus stock options and the payment of expenses, which was renewable on a year to year basis. The plaintiff contends that the defendants failed to grant him stock options in his first year under contract and that in a second contract he signed with the company on Oct. 16, 2013, he was supposed to receive 25,000 shares in the company and an increased salary of $108,000 plus commissions.

Hudson asserts under both contracts he was to be granted a 30 day notice before its cancellation, however, on Feb. 1, 2014 Seisco reduced his salary by $1,000 a month and stopped paying his expenses and that on June 13, 2014 he was terminated. The plaintiff claims he contacted Seisco’s president on July 22, 2014 to demand payment for all amounts owed to him, but did not received a response.

The defendant is accused of unpaid wages and breach of contract.

An unspecified amount in damages is sought by the plaintiff.

Hudson is represented by Shane D. Pendley of New Orleans-based Willeford & Toledano.

The case has been assigned to Division N Judge Stephen D. Enright Jr.

Case no. 746-701.