Forum

Legal Forums » Employment Law - Discussion Forum » What protection for High Earners?

Started Dec 24 2012, 01:19

Dec 24 2012, 01:19
Hi, very briefly, my employer has given me an ultimatum - either sign a new contract of employment which includes various restraint of trade covenants that my current contract doesn't have, or they will dismiss me.

The new contract is purely to protect the employer. They are offering me 50% of my base salary for 6 months after I leave, which would work out to be about 35% of my total package, for 6 months non-compete, 12 months non-solicit. They also have a waiver whereby they can choose not to enforce the covenants, at their sole discretion. The covenants cover just about the entire Southern hemisphere which basically means I won't be able to work at all within the industry, for any reason. They will not negotiate.

My first thoughts were that they just couldn't do this legally, then another lawyer advised me that they could pretty much do whatever they like as I earn a fairly large salary (c. $400k).

So, does anyone here have any experience with this sort of thing? I am still in shock that they can do this legally. I know I could take this to court myself, but I have been advised against that, purely because of the cost. I don't necessarily want to leave just yet as the salary is fairly competitive for the industry.

Mamun mia
Contract ID#12637658

Complete your free legal enquiry form below.

Forum