Ronald Winters
Junior Member
What is the name of your state? kentucky
I was hired on Jan 2 1996. In May of 2001 i received a 5% share of the company through sweat equity. In Sept 2002 I was asked to sign an agreement that was for a deffered retirement compensation that also included a no compete agreement. The deffered amount was 250,000.00 that was vested after tens years from signature date. I was not paid anything for signing the agreement but i was made to believe that the no compete was in place on the agreement to keep me from quiting and collecting the money prior to turning age 65. This past April i left the company due to unfavorable work conditions (i was placed in jobs that i had no traingint for and given 30 days to produce) The no compete is for 3 years and a 100 mile radius. The work I do i have done for 23 years and it is billing and collections for a medical equipment company. I have found no luck in getting a job in other fields as there is no real compairson between them. I am wondering if i take him to court to nulify the agreement based on the fact that i received no compenstaion and that i was misled if it would be a favorable move on my part>? Please advise.
I was hired on Jan 2 1996. In May of 2001 i received a 5% share of the company through sweat equity. In Sept 2002 I was asked to sign an agreement that was for a deffered retirement compensation that also included a no compete agreement. The deffered amount was 250,000.00 that was vested after tens years from signature date. I was not paid anything for signing the agreement but i was made to believe that the no compete was in place on the agreement to keep me from quiting and collecting the money prior to turning age 65. This past April i left the company due to unfavorable work conditions (i was placed in jobs that i had no traingint for and given 30 days to produce) The no compete is for 3 years and a 100 mile radius. The work I do i have done for 23 years and it is billing and collections for a medical equipment company. I have found no luck in getting a job in other fields as there is no real compairson between them. I am wondering if i take him to court to nulify the agreement based on the fact that i received no compenstaion and that i was misled if it would be a favorable move on my part>? Please advise.