Employment agreement

[maximum]

Dear Madam/sir,

 

I have signed an agreement that binds me in a buyout provision, Following is an excerpt from the agreement,

"Buy-out provision. You recognize that Company XYZ will have incurred cost and expense, both tangible and intangible, including but not limited to recruiting, training, relocation, education, visas, legal, transportation, commission and insurances. Therefore, to cover these costs, if you terminate this agreement prior to 18 months after the commencement of employment, you shall reimburse the company XYZ, the sum of $1000.00 per month for every month remaining in the 18 month term, plus any outstanding loans or advances the company XYZ might have extended to you."

They have sponsored me an H1 visa and gave me relocation assistance.

Is there a possibility to walk away from the agreement without the provision's applicability?

Please advise.

 

 

 

[omshiv]

Dont understand with the kids these days..if you dont plan to work with the company then DONT sign any bonds...simple...why make things complicate for them as well as yourself.

 

show it to a labor lawyer.

[jairichi]

Dear Madam/sir,

 

I have signed an agreement that binds me in a buyout provision, Following is an excerpt from the agreement,

"Buy-out provision. You recognize that Company XYZ will have incurred cost and expense, both tangible and intangible, including but not limited to recruiting, training, relocation, education, visas, legal, transportation, commission and insurances. Therefore, to cover these costs, if you terminate this agreement prior to 18 months after the commencement of employment, you shall reimburse the company XYZ, the sum of $1000.00 per month for every month remaining in the 18 month term, plus any outstanding loans or advances the company XYZ might have extended to you."

They have sponsored me an H1 visa and gave me relocation assistance.

Is there a possibility to walk away from the agreement without the provision's applicability?

Please advise.

You can not. The only thing you do not have to pay them back is your H1B fee.