My company has been acquired by another company, am in an agreement with my company! [closed]

manpreet Best Answer 2 years ago

This is the point mentioned in my agreement regarding acquisitions, but I cannot understand this clearly. Does this mean I'll be forced to continue my agreement with acquired company, or can I relieve from this agreement and leave my job? I have 1 year of agreement remaining.

In the event that my employment is transferred by X, to a subsidiary or affiliated company,My employment with such company will, for the purpose of this agreement, be considered as continued employment by X, unless and until I execute an agreement, substantially similar in substance to this agreement, then in force in any such company for which I become employed.

X is my company name.

manpreet 2 years ago

Yes, according to the clause you have quoted, your employment agreement will considered to still be active and in force even after transfer to another entity, unless you subsequently sign a similar agreement with the new company.

In other words, an acquisition doesnt void your agreement.