Obligation to Tuition Reimbursement Contract

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Obligation to Tuition Reimbursement Contract

Hello,

Two years ago I signed a tuition reimbursement contract with my
employer,in which they agreed to pay 60 of the total tuition cost,
in exchange for a three year commitment. However, last year, our
company split into two separate publicly traded companies, my
Operating company OpCo, was one of the OpCo’s that went with the
new publicly traded parent company.

My question is am I legally obligated to stay with the new parent
company, when all of the paperwork and contracts signed were listed
under my previous parent company’s name? There is nothing listed in
the contract highlighting mergers, acquisitions or split-offs, so I
am wondering where I stand with my obligation.

I appreciate any insight you could offer. Thank you.

-KJ

Asked on June 28, 2017 under Employment Labor Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Yes, you are still obligated to the agreement. A change in the ownership of your employer (e.g. if it is not publically traded, it is "owned" by members of the public, at least in theory--the shareholders) or a change in the employer's name has no effect on contractual obligations. The agreement did not need to mention mergers, split-offs, etc. because there was no need to: under the law, you are still obligated.


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