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Tina
Tina, Attorney
Category: California Employment Law
Satisfied Customers: 33167
Experience:  JD, 17 years experience & recognized by ABA for excellence in employment law.
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The company i work for was just purchased by our competitor.

Resolved Question:

The company i work for was just purchased by our competitor. I have a severance contract with my previous employer, does that carry over to the new company? I have not met with the new company yet, what if they offer me a job at 1/2 my current pay? if I turn that down am i voiding the contract?
Submitted: 5 years ago.
Category: California Employment Law
Expert:  Tina replied 5 years ago.
Hello and welcome,

Yes, the successor company would normally be bound to contracts entered into by the predecessor.

It is most certain if the contract contains language indicating that it is binding on successors and assigns, but normally they are anyway.

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