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Loren
Loren, Lawyer
Category: Employment Law
Satisfied Customers: 34396
Experience:  More than 30 years in legal practice.
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My husband is involved in a business..he is currently 10%

Customer Question

My husband is involved in a business..he is currently 10% and there are two other partners who are 45% a piece. It is written into the agreement that if my husband does his job and deserves it at the end of every year he will receive an additional 5%. At the yearly meeting last week it was verbally agreed upon in front of a lawyer that he would receive his 5%. Today he received the new "employee agreement" and it in it its stated that his 5% will now be contingent on him negotiating a longer lease with the landlord. (This is a bar) So basically after he has been rewarded his 5% for doing his job they are saying unless he can force the landlord into what they want him to do he will no longer receive his 5%. Is this illegal?
Submitted: 6 months ago.
Category: Employment Law
Expert:  Loren replied 6 months ago.

I am Loren, a licensed attorney for over 30 yrs. Thank you for your patience as I review the question. I will post my response shortly.

Expert:  Loren replied 6 months ago.

Unless the original agreement contains a provision to the contrary, it may not be unilaterally amended. So, if the shareholder agreement was still in effect, he is entitled to his 5% bonus, unless he agrees otherwise.

Expert:  Loren replied 6 months ago.

Did you have further questions? Is there further information I can provide you?

Expert:  Loren replied 5 months ago.

If you have no further questions please remember to rate my service (5 Stars) so that I am credited by JA for answering your question and also so that I may close the question.

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Thank you!