If the company is under new ownership, is the non-compete agreement signed previously still valid?
I signed a non-compete agreementand the ownership changed 4 years later. The previous owner is still the acting President but not the majority owner. Work conditions have changed, the business is declining and my pay is based on commission. The owner is in violation of employment taxes and 401k laws, will any of this be considered for argument if the non-compete is still valid?
1 answer | asked Nov 4, 2010 10:54 AM [EST] | applies to Ohio
Answers (1)
Here is an article that addresses your new employer question.
http://www.myemploymentlawyer.com/wiki/Enforcing-Non-competition-Agreements-after-the-Sale-of-a-Business.htm
If the employer's obligation to pay taxes and make contributions to your 401(k) are part of the non-competition agreement, then the employer's failure to perform those obligations may give you the right to rescind the agreement. Here is an article on rescission:
http://www.myemploymentlawyer.com/wiki/Rescinding-or-revoking-Non-competition-Agreements-because-of-the-Employers-Breach.htm
posted by Neil Klingshirn | Nov 4, 2010 1:51 PM [EST]
http://www.myemploymentlawyer.com/wiki/Enforcing-Non-competition-Agreements-after-the-Sale-of-a-Business.htm
If the employer's obligation to pay taxes and make contributions to your 401(k) are part of the non-competition agreement, then the employer's failure to perform those obligations may give you the right to rescind the agreement. Here is an article on rescission:
http://www.myemploymentlawyer.com/wiki/Rescinding-or-revoking-Non-competition-Agreements-because-of-the-Employers-Breach.htm
posted by Neil Klingshirn | Nov 4, 2010 1:51 PM [EST]
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