Relocation Agreement

[Isabella20]

My question involves labor and employment law for the state of: North Carolina.

I relocated to the state of North Carolina to work for Company X in 2007. The agreement per company policy is that I am currently bound to repay 50% of the value of the relocation benefits if I leave prior to June of 2009. This stipulation is also in my offer letter from Company X.

Company Y recently entered a formal agreement to purchase Company X. Experts are estimating that it will take anywhere from 6 months to a year for the deal to be executed.

My first question is, at this point in time, am I still bound by the relocation agreement, since I relocated to work for Company X, not "Company X Under Purchasing Agreement From Company Y?"

My second question is, when Company X becomes absorbed into Company Y, will my relocation agreement with Company X become null and void? Again, I uprooted my family to work for Company X, not Company Y, and it is Company X's name on the offer letter.

Thanks in advance for your help.

[cbg]

We cannot answer either of your questions since the first depends on the exact wording of the agreement and the second depends on the exact wording of the agreement AND the terms of the sale.

You will need to have it reviewed by an attorney in your state.