22 November 2010
If my store is closing in a year am i still responsible for paying back the relo money they gve me to transfer?
Posted by admin under: Renting & Real Estate .
I transferred with my company in march and they gave me a relo package. ive since found out that my store is slated for closure and that we are on a month to month lease now. I signed a contract that stated that if i leave the company then I have to pay back the money. if it is unknown when the store will close then am i still legally obligated to pay the money back?
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3 Comments so far...
MasterSheff Says:
23 November 2010 at 6:10 am.
if the contract is specifically for when the store shuts down then you wont need to pay anything till then. But most contracts have their tricks, I’d go back to the contract and review it. If it doesn’t say anything about paying back before the business closes then you can use that money, if it does then I’d store it encase they ask for it.
kare34235 Says:
25 November 2010 at 9:16 am.
i wouldn’t think so…it’s them that’s breaking the deal
gafpromise Says:
27 November 2010 at 12:59 pm.
You need to speak to HR or whoever structured the relo package ASAP. First of all I can’t believe that the relo contract lasts forever – if you stay with the company for 20 years and then leave, you’re still obligated to pay back the relocation fees? That doesn’t make sense, there ought to be a time limit on it. It can’t bind you forever.
If the store is closing, it is not you leaving the company, the company is leaving you. The contract ought to only apply in cases where you resign, not where you are downsized. You should direct your questions to Human Resources, then get an attorney’s advice if you don’t get a satisfactory answer.