Q: Breaching of a forfeiture agreement
I signed a forfeiture agreement that accelerated my stock vesting and required me to stay with the company for a couple of years. My family is sick and because of COVID 19 we can't hire a baby sitter and I have to take care of my kids and my wife and can't give more than 100% of my time at a startup. Plus my salary is reduced by 60% because of the potential revenue hit. I have asked to transition out in 3 months considering my family situation and changes at work but I am being subject to the forfeiture agreement. Wondering what kind of rights do I have here?
No one can tell you about your rights without reviewing the agreement and getting a full understanding of its making and your present situation. You need to locate and consult with an experienced employment law attorney to get the answer you need.
Good luck to you.
A: Your situation is complex and I don't think you can expect to get an informed response from any lawyer with the brief information that you provided. Even if you provide a lot more facts that is not enough. You need to consult a lawyer, and provide him/her with copies of your forfeiture agreement, and other documents that may have an impact on your circumstances.
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