employee keeps changing "intent of contract", entitlement for rentention bonus

in anticipation of a company splitting, i was given a contract as VP of the new copmany to be formed. After contract signed, the decision was made not to form new copmany but close. Now other part of company is closing and say I must stay with them throuh closure due to contract and am not being offerred incentive like other employes becuase they say i have a contract. |Is this legal?

Am I entitled to rention beonus given other employees if i have a contract?

1 answer  |  asked Feb 8, 2003 05:39 AM [EST]  |  applies to Massachusetts

Answers (1)

Judith Miller
retention bonus

If you have an employment contract with the existing (not the proposed and never incorporated new company) then your rights are largely governed by the terms of that employment contract. Whether you are entitled to a retention bonus depends on the terms under which the company has agreed to give the retention bonus and whether there are other reasons that they have excluded you (e.g., race, age, disability). In order to answer the question definitively, you should have a lawyer look at your employment contract and the retention bonus plan, and talk to about the circumstances surrounding the closure of the company.

posted by Judith Miller  |  Feb 9, 2003 09:44 AM [EST]

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