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Is Your Company Merging With Another And You Worry About The New Contract? Hire A Lawyer

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If your employer is going through a merger and management has asked everyone to sign new employee contracts, have your contract looked at by a lawyer before you sign on the dotted line. There could be a variety of reasons why you don't want to sign the contract, and why you want to make sure that everything is going to stay the same. You'll want to talk with a lawyer and give them a copy of your original contract that you signed, and the new one you are expected to sign. The following will be potential concerns:

Are Benefits the Same?

Are all your benefits going to be the same, like will you pay the same for medical and dental, or will the company still contribute to your retirement plans? Your lawyer will go through these details and compare what you have now with what you will have in the future, to see if you're going to be paying a lot more for the benefits you've already agreed to and signed a contract for.

Will Wages or Bonuses be Different?

Are they going to cut your pay or change the way that they tax you? Will bonuses change or be different with the merger? If so, your lawyer will make sure that you get the money that you already have coming to you, and they can fight that the employer has to finish out the year or the contract giving you what they already proposed. Slight changes in holiday pay, overtime, or other incentives could greatly affect your paycheck and be a problem if you don't notice them in the new contract.

Is Employment Duration Extended?

Are they going to extend the time of your contract, or will signing the new contract renew you to work there for longer than you have previously agreed? If so, make sure that you are willing to work that long, and if not have the lawyer negotiate the terms of the time you have to stay employed there, and then give yourself the option to go over your contract at a later time.

You don't want to get tricked into pay changes or work obligations because you signed a contract during a merger. Talk with a lawyer (such as one from Powers Law) so the new contract you sign isn't just what they put in front of you, but instead what you want to get out of your employer during the merger.