California | Employment Law
Legal Question
I was hired on a non-forgiveable draw basis and was given a signing bonus of $50,000, forgiveable after 2 years (50% after 1 year). I was promised certain things that made me decision to quit my current job and accept the new job. For instance I was promised an assistant who would take care of my paperwork and promised tools that would be shared with me that would make me a million dollar producer. I am a financial advisor by trade. I accepted the job and immediately realized that I would not be given what was promised. I had no assistant and was given no tools by my manager to help me produce. Due to my hopeless case and the horrible territory I was given, I ultimately made the decision to leave this company even if that meant that I did not fulfill my two year obligation for my sign on bonus. My previous company is now asking for the 50% of my sign on bonus back, but I feel that since the promises that were made to me were never fulfilled, that I should not be obligated to pay this back. I feel this is an implicit breach of contract. Am I obligated to pay this sign on bonus back?
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Read More Answered By: Timothy McCormick |
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