What is the name of your state? Maryland
I am an executive at at a mid-sized company that is in the process of being acquired.
When I started with the company, the CEO and I agreed in writing to the following:
"if I am terminated for any reason, other than for gross negligence in my job duties or for a criminal offense, I will be paid three months severance". THATS IT.
When this company is sold, I will continue to work for the new company for about 6 months to help with transition, and then I will be terminated by the new company.
At the time of the merger, because my agreement states that I will be paid severance if terminated for any reason, I feel that I am entitled to collect the three months severance.
If my current company comes back and says my agreement was assumed by the new company, do I have grounds to collect my severance. I really don't want the new company to assume my severance agreement bacause I'm afraid they will force me to quit by making me relocate or by reducing my salary.