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  1. #1
    Join Date
    Jun 2010
    Posts
    1

    Default Company Shut Down

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

    My fiancee's current job is shutting down. They had him sign a letter stating if he stays till closing he will get additional money. The day before the closing (today 06-30-10) they want to extend it another 4 weeks. The company said if he doesn't stay he will not get this money. Is this legal?

    HERE IS THE ACCEPTANCE LETTER FOR CLOSURE

    the "business" should complete the transition around July 1st 2010 9the "closing"). because you are an important employee and your services are important to the ongoing success of the Business during this key period, the Company proposes to pay you a retentions bonus (the "Bonus") provided that you stay with the Business throught the Closing subject to the terms set forth below.

    if you remain continuously employed on a full-time basis at the BUsiness through the Closing the Company shall pay you a Bonus equal to xxxx less required withholdings. The Bonus, if earned, will be paid by check within 30 days following the Closing. The Bonus will not be included in determing the amount of benefits under any of the Company's qualified or nonqualified employee benefit plas or other bonus programs in which you may participate.

    Prior to the Closing you agree to contue to devote your entire business kill, time, and effort diligently to the affairs of the Business and perform all such duties, and otherwise conduct yourself, to promote the best interests of the Business.

    This agreement is independent of any other writeen employment or severance agreements between you and the Company and of any employee benefits....

    Nothing in this agreement shall alter the at-will nature of your employment with the Company. This agreement may not be changed orally and may only be amended, revoked, changed or modified at any time by a written agreement executed by you and the Company. The terms of this agreement will be governed by California law.

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Company Shutdown

    from this:

    the "business" should complete the transition around July 1st 2010 9the "closing")
    there was apparently no hard date set.

    so, based on this:

    provided that you stay with the Business throught the Closing subject to the terms set forth below.
    he is bound to stay until the company actually closes regardless of what the actual and eventual date is.

    Obviously if he chooses to not continue his employment beyond what he thought would be the date of closing, he can do so. He obviously would lose the bonus.

  3. #3
    Join Date
    Dec 2007
    Posts
    2,357

    Default Re: Company Shutdown

    And this is not unusual in closing situations. Been through it myself and we offered a similar incentive.

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