UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: PaulEngr Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 49512  
Subject: Yellow dog contracts (non-competes) Date: 12/12/2004 7:57 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 3
I was just reading through:


Interesting, but misses the point. In virtually every state, non-compete agreements that have no penalty clause for the company are usually illegal at best. One of those things that I have signed which did have teeth went like this. I had to give them notice during the next 2 years after I left the company whenever I took a job with someone else. If they exercised the option to refuse to allow me to take the job, they had to pay whatever the OFFER was plus 50% until the end of the 2 year window. They also didn't exercise it very often.

A variation of this theme often gets played on visa-holders. They are informed that they must work for company X for a period of years or else pay some ridiculous amount of cash on the theory that company X put out a lot of money to sponsor their entry into this country. This may be true but it is literally a rehash of indentured servitude contracts of the 18th century that were outlawed in this country.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


Post of the Day:
Saul's Investing Discussions

Fertilizer Industry Growing?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.