Employment Contract Void?

Question

So - legally-minded Fairygodbosses!  I am supposedly locked into an employment contract for another year - but our company was bought out, so the name on the contract is NOT my current employer.  The new company doesn't do contracts for new hires.  Does anyone have a gut feeling about whether it's still valid?  Many of us are wondering, but no one's tested it yet - and HR is being really evasive on the subject.

Anonymous · Answer

Ah - the same might be true with employment contracts - that they're absorbed by the purchasing company.  There's a get-out clause that allows me to leave after paying 1/4th of my annual salary back to the company, so the new job would really have to be worth it, or I'd need to negotiate that into my offer.  Thanks for your input!

Heather Neal · Answer

Typically the purchasing contract absorbs contracts, but this is from my experience with vendor contracts, not employer. Did you get a sign on bonus or something that makes it so you cannot walk away? Most states are a right to work, so I would think you would be able to walk away whenever you want.

Employment Contract Void?

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