Inconsistant Employment Contracts

I am one of 30 managers in my company. Last September all managers were given checks equivalent and certain number of cashed out stock options. All funds came from the same location in the company. 4 managers, including myself, we required to sign a contract in order to receive the money. I want to leave this company now. Since not all managers were required to sign, am I leagally bound or do I have a case should they try to fight my resignation?

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Geckocell:
I am one of 30 managers in my company. Last September all managers were given checks equivalent and certain number of cashed out stock options. All funds came from the same location in the company. 4 managers, including myself, we required to sign a contract in order to receive the money. I want to leave this company now. Since not all managers were required to sign, am I leagally bound or do I have a case should they try to fight my resignation?<HR></BLOCKQUOTE>

My response:

What is it about the contract that you don't like. What does it say? Are you saying that you were entitled to the money even without having to sign? If so, what are your grounds? Be more specific, please.

IAAL




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I received money in exchange for an 18 month contract. What I didn't realize when I signed the contract was that I was only 1 of 4 managers required to sign. The other managers received money at the same time but were not required to sign an employment contract in order to receive their money. I would like to seek employment elsewhere now. Many of the original managers have left or are leaving creating a very unstable work environment.

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Geckocell:
I received money in exchange for an 18 month contract. What I didn't realize when I signed the contract was that I was only 1 of 4 managers required to sign. The other managers received money at the same time but were not required to sign an employment contract in order to receive their money. I would like to seek employment elsewhere now. Many of the original managers have left or are leaving creating a very unstable work environment. <HR></BLOCKQUOTE>


My response:

I think you already know the answer to this dillema. It appears that you, as an adult, received "consideration" for signing the contract, and you are bound by all legitimate terms and conditions thereby. It makes no difference that others were not required to sign a contract. For some reason, your employer wanted to guarantee himself that you would remain on the job - - perhaps in a key role. But, no matter the reason, you are under contract, and to breach that contract could cause you a lawsuit, and require payment of damages far in excess of what the company paid to you for signing. Next time, tell any employer that you want to review the contract completely, before signing (preferably with the assistance of counsel)and to, perhaps, place a "parachute" clause in the contract.

IAAL



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By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."