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.