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LawBeagle
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My company is on a multi-year project. I have been offerred

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My company is on a multi-year project. I have been offerred a bonus to stay on the project for the next 3 years. the bonus is paid after each year; for example (nov 2012, nov 2013 and nov 2014). The letter is to keep me on the project and employed with the company. It has many sections and clauses in it that have me concerned. It's bascially a retainment contract. Anyone have any advice on what I should watch out for ? It's hard to ask the right question here without typing out the clauses.  I have to sign the contract by 2/9.  Most of the paragraphs start with, "In the event that you continue in your present position with the Comapny (or in such capacity as required by the Company)".  One of the main concerns I have is if I leave the company it has a non-competition clause that states, "you agree that during your employemnt and for a period of three motnhs after the termination of your employment..." 
Submitted: 2 years ago.
Category: Legal
Expert:  LawBeagle replied 2 years ago.
Hello,

You will want to double check for the following things:

* Terms and conditions that you must meet in order to receive the bonus - are there performance goals you have to meet? Billable hours? If so, are the terms and conditions able to be met.

* Non-competition clauses - these are clauses that restrict your ability to work for a competitor, take clients from your current employer, etc. These can be upheld, but they have to be reasonable.

* Damages clauses - if you decide to leave employment, will you owe the company damages?

Like you said, it is hard to say for sure without actually looking at the clauses themselves - you might want to consider hiring a local attorney to do so - it likely would be very inexpensive - should be able to be done in one sit down with an attorney, and it could save you some grief down the road.

Let me know if you have any other specific questions! I hope this helps. If my answer has been informative, please click the green Accept button, as I will not receive credit for my response unless you do so. I am happy to answer follow up questions. After you hit Accept, type your response and hit reply, and I will get right back with you. Thanks again!

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LawBeagle, Attorney
Category: Legal
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Experience: Licensed attorney
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