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Settlement Agreement Question (successors)

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  • Settlement Agreement Question (successors)

    I have an aggreement with company A not to seek employment with them and their "subsidiaries, division, and affiliates, and each of their respective predecessors, successors, divisions, parent corporations, assigns, insureres, and to any and all of their respective past, present and future officers, directors, partners, shareholders, employees, agents, employee benefit plans and their fiduciaries and each of their successors, predecessors, and assigns, and attorneys, in their official and their personal capacities"

    The question I have is this:

    Company "A" has been bought out by Company "B". Company "B" now fully owns Company "A" and in fact you can no longer purchase shares of Company "A".

    Does this mean I can't seek employement with Company "B" as they now own Company "A" or does the agreement only apply if Company "A" had purchased Company "B".

    Also, since technically Company "A" no longer exists, is this agreement null and void?

  • #2
    successors

    Technically it applies to new company B but you could perhaps ask to negotiate and discuss the issue arguing that that was not really contemplated at the time you signed. Most courts are not keen to prevent you from being able to work and so often view and treat such agreements narrowly, if it has to go to court.

    Comment


    • #3
      I was wondering about that as there is also a clause under "Employment" in that section which states that I agree not to "seek employment, re-employment or independent contractor status with or by (company A) or any entity then controlled, owned, operated by, or affiliated with (company A)"

      It seemed to me that they redefined themselves, under this section, to mean anything they controlled, owned, operated, or were affiliated with.

      Being that they were litterly bought out, Company A, no longer controlls, owns, operates, or is affiliated with anyone as Company B now does so.

      Comment


      • #4
        b may be deemed a successor company

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