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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Legal
Satisfied Customers: 19285
Experience:  B.A.; M.B.A.; J.D.
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I am entering into a settlement agreement with a soon-to-be

Customer Question

I am entering into a settlement agreement with a soon-to-be previous employer. The settlement amount will be paid out over time. Is there any way to guarantee the payments? For example, if the company currently had the cash we could use escrow however, the payments will be coming from future revenues.
Submitted: 1 year ago.
Category: Legal
Expert:  Phillips Esq. replied 1 year ago.

Regrettably, there is no way to guarantee payments if the company is cash strapped and cannot put the funds in an escrow account. However, non-payment will be a breach of the settlement agreement. Once the employer breaches the settlement, you have no obligation to continue to comply with the terms of the settlement.