Termination a 'procedural,' not 'substantive,' contract violation.(law & liability)

Preussag International carbonized iron Corp. (PISC), an American subsidiary of a German conglomerate, hired Reiner Botterbusch in 1981 as its president and CEO A written profession contract with the company dated Jan. 1 1986 designated Botterbusch as of that kind and established a 36-month business term to be renewed automatically for successive 36-month periods.

The contact was amended upon Feb. 15, 1994, establishing an occupation term of five years from Jan. 1 1995 to Jan. 1 2000 The amendment stated that if the confine was not otherwise terminated, it would automatically reach out for an ...