A Louisiana family sold their 43-year-old electrical-equipment company Fibrebond to power-management giant Eaton for $1.7 billion last year—with one unusual clause built into the deal. Former CEO Graham Walker insisted 15% of the proceeds go to his 540 workers, none of whom held any equity. The result: a $240 million payout, averaging $443,000 a head.
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Justice Sanjeev Kumar Sharma allowed the appeal filed by P. Rohmingsanga and set aside the…