Legal Question in Employment Law in Virginia
Forced Out - Pay
I am a Corporate Treasurer for 17+ years of a 2.8M company. I am not a stockholder. 45 45 10 split My husband is the President. We had a management dispute over salaries and the others are forcing me out. Plus they now want to buy/sell my husband. Do they have an obligation to give me any kind of severance or can they cut me off? There is profit in the business. I did nothing wrong, but ask for a reasonable raise.
1 Answer from Attorneys
Re: Forced Out - Pay
If in your position as coporate treasurer you are in effect a company employee, you can be dismissed
as any other employee subject only to the constraints of whatever contract of employment that you may be working under. If you have no contract then you have nothing to protect yourself against summary dismissal nor are you in any position to demand severance nor any other kind of emolument other than whatever funds from retirement/pension programs which you may have accumulated over the 17 year period.
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