Nivison

This case requires us to interpret and apply a federal statute commonly known as ERISA. G. D. Searle and Company had *435 for some years maintained an employee plan providing, in a case of termination of employment initiated by the employer, a provision providing that the employees so terminated were entitled to termination pay of one month’s salary for every year of employment. The Searle company now desires to sell its so-called “Will-Ross Division” to a company of which respondent Burney is the president. In connection with such negotiation, Searle intends to modify its employee relation plan so as to eliminate the termination pay provision and substitute a provision providing the terminated employees only a six-months employment with any company to which the Will-Ross Division is sold. The present action seeks damages from respondent Burney on an allegation he has “conspired” with Searle to so modify the termination provision. The present appeal requires us to determine whether or not Searle’s purported revision of its employee plan is illegal and secondly whether an action against respondent Burney for his part in such amendment can be prosecuted in a state…