Legal Question in Business Law in Texas

Existing agreements for a Spin-off company

Part of my contract for employment included relocation expenses, including a two year commitment stipulating a phased pay back in case I chose to change jobs before the two year period. Recently, it was announced that the parent company that I work for is spinning off into two separate companies; I will work for the new company. The contract only stipulates the parent company as my employer, and not any subsidiary. Can I change jobs without legal recourse? Is the agreement still valid?

Asked on 6/29/06, 10:40 am

2 Answers from Attorneys

Peter Bradie Bradie, Bradie & Bradie
0 users found helpful
0 attorneys agreed

Re: Existing agreements for a Spin-off company

Hard to say without knowing what the arrangement is between the companies. Check with Human Resources, they should have a handle on it.

Read more
Answered on 6/29/06, 1:38 pm
James Grissom Law Office of James P. Grissom
0 users found helpful
0 attorneys agreed

Re: Existing agreements for a Spin-off company

Depends on what the spin-off agreements state. If the spin-off agreements state that the new company assumes the contractual responsiblities of the old company, your contract is probably included. Depends also on what your contract says about successors, etc.

Read more
Answered on 6/29/06, 11:41 am

Related Questions & Answers

More Business Law questions and answers in Texas

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Business Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Glen AshmanAshman Law OfficeAtlanta, GA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now