Legal Question in Employment Law in California
''Additional Salary'', payable or not?
I sold my buiness over three years ago to a company which then hired me as part of the deal. As part of the payment for my business, I was given an additional salary package of $25,000.00 for six years. I have a little over two years left on my additional salary payments. My contract states that if I am terminated for any reason that my the salary payments will be continued to be apid as directed by me. Can I require them to pay all remaining salary on my last day if I give notice and quit my position?
3 Answers from Attorneys
Re: ''Additional Salary'', payable or not?
Without looking at the exact wording of the contract, a perfectly exact response is not possible. Given your description of the language however, if you quit, this is not the same as being "terminated." Therefore, if you quit they have no obligation to continue with any "salary" payments thereafter.
If the language of the contract is vague, contact your local bar association for a referral to an attorney experienced in labor law issues.
Re: ''Additional Salary'', payable or not?
from the facts given so far, the wording of your employment contract will control whether or not you would be entitled to any salary or a lump sum salary payment if you voluntarily terminate yourself from this position. the contractual language will be controlling here. if you would like further legal assistance in this matter, feel free to email me with more details.
Re: ''Additional Salary'', payable or not?
You quit and you probably lose those payments. Have an attorney review the agreement to be sure you know what it means. If you want to discuss it with me, contact me.
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