Bond in Employment contract
I signed an employment contract with Company A which states the following also under the section - ''Non-Solicitation/Non-Competition Covenants.'':
b) In case independent Contractor brakes this contract or else joins with the client or client’s client of the Company or left the project in between then Independent Contractor is liable to pay immediate $15000 to the Company plus the lawyer and litigation charges.
Company A is based in New Jersey. They have placed me as an independent consultant at Company B in Texas. They charge Company B $x/hr and pay me a percentage. My question is what happens if I decide to terminate the contract upon finding a better/different offer elsewhere. Will I have to pay up the $15000?
Thanks.
Asked on 3/09/04, 1:17 pm
1 Answer from Attorneys
Roger Evans
Mathis & Donheiser
Re: Bond in Employment contract
This will depend upon the enforceability of the underlying agreement. You will need to have a lawyer experienced in covenants not to compete review it.
Answered on 3/09/04, 1:32 pm
