Does the offer of a perfomance bonus establish an employment contract ?
Hello and welcome,How was the offer made/accepted?What terms did the parties agree on and how was their agreement consummated?In which state does the employee work?
The offer was presented during recruitment talks and was accepted when I accepted the position. Two bonuses were offered, 1st. was for $28,099.00 and the 2nd. was $88,545.00. Both parties signed the agreement. Both bonuses were paid to me. There was a claw back provision that stated if I was terminated or resigned I would be obligated to repay. The bonuses were paid out as a forgivable Loan. I resigned 4 years later due to the company restructuring their compensation policies regarding my unit. I was hired in Florida but the company was headquarted in NYC. I transferred to an office in North Carolina where I resigned.
Thank you for the additional information.The acceptance of an offer to pay bonuses does typically create a legally binding contract to pay the bonus, so the answer to your question is "yes", provided the agreement rises to the level of a binding contract.Here is a link that sets out the elements of a contract generally:http://tutor2u.net/law/notes/contract-elements.htmlThere are defenses to a legally binding agreement, such as could cause a court to set aside or refuse to enforce terms that were otherwise required under the agreement. If you are seeking to prevent the contract from being enforced, I would be happy to address those defenses upon your request.
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JD, BBA Over 20 years legal and business experience.
Tina, I would like to discuss with you those defenses with you. Please call me @ XXX-XXX-XXXX. Final Hearing for FINRA Arbitration will begin on Wed., June 27 and need guidence immediately.
The website does not permit me to contact customers outside of this forum based on the TOS you and I both agreed to. If you let me know what defense you believe you may have or the facts of your case that you believe may present a defense, I would be happy to address that issue with you here.Also, does the contract indicate which state's laws are to apply to any dispute?
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