Legally tied to my employers tuition retention agreement if they are sold?

My current employer paid for my MBA, and with that, I signed a tuition refund retention agreement for four years after the last tuition paid.

The question that I have is if I am contractually obligated to my current company or new company owner once my division is sold? I work for a well known organization, my specific division is up for sale and will be sold by years end. The new owner will keep my current employers logo and name but that is all. Other than the naming rights and logo, my division will not longer be apart of the main corporation at all.

On the retention agreement that I signed, it is very clear that I would no longer be obligated if the business I signed the agreement with is no longer tied to the main corporation. However, what if (and they will) keep the main corporations logo and naming rights? Will I still be obligated to the retention agreement forms?

The specific paragraph that I believe is of importance is the following (I will put "XXXX" to replace my companies name):

"If your Employment is terminated due to death, business disposition or end of protected service following disability, layoff or plant closing, each as defined by XXXX in its sole discretion, at any time before or after completion of the Course, you will not be required to repay any portion of the Tuition Benefit paid under XXXX Tuition Refund Program. A business disposition is generally a transaction in which you become employed by an entity that is no longer an Affiliate of XXXX. Regardless of this provision and pursuant to the terms of the Tuition Refund Program, the reimbursement obligation of XXXX and its Affiliates will continue to cease once you are no longer an active employee or in protected service."

0 answers  |  asked Jun 6, 2018 2:52 PM [EST]  |  applies to Ohio

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