Sign-on bonus

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jul 7, 2005 5:57 pm

I joined a firm approx a year ago.  At that time I was given a sign on bonus in the form of a "promissory note", with yearly bonuses to be paid if my goals were met, to payback the loan. 


Now the office is potentially going to be sold to another firm.  Both are regional firms.


My question is...  If I do not accept a contract with the new firm, is the debt still repayable to my old firm?

Jul 7, 2005 8:54 pm
Confused:

I joined a firm approx a year ago.  At that
time I was given a sign on bonus in the form of a "promissory note",
with yearly bonuses to be paid if my goals were met, to payback the
loan. 


Now the office is potentially going to be sold to another firm.  Both are regional firms.


My question is...  If I do not accept a contract with the new firm, is the debt still repayable to my old firm?





That transfer package sucks.

Jul 7, 2005 10:26 pm

Rightway,


Sure, now you tell me.        Yes, along with a few other promises that were never kept.


Thanks Bill!!!


If anyone else has any input, I sure would appreciate it.  Thanks.

Jul 8, 2005 10:11 pm

Bill,  Any cases to look at that have gone to arbitration.  I read the article and it was very interesting.  I am in a similar situation.  Recruited over to new BD, given big check up front.  New boss comes in 6 months later and tells me things are changing,  they wait until I have finished transfering over all assets then tell me to resign or they will fire me and file something on my u5 if I dont.  What recourse do indivisuals have when it come to promisory notes and forgivable loans. I know lawyers but have their been any cases that we can read up on?