Work experts: What this mean?

[coolhead]

U read closer.

Does that mean the ex coy will agree to compensate u for 3 years so u won't go competing coy?

Yes. Gxgx in advance!

 

[KnyghtRyder]

Hello.

I am not a wrok "expert" but I am here to advise you. I am actually just a regular guy trying my best, limbei not lawyer.

This means for 3 years after you (or the applicable party) has left the said company, he/she cannot be employed by any competitor in the same industry as the company with whom you signed this contract with. The 3 year term starts after renumeration terms have been mutually agreed. Or so I believe.

Close.. but the three year starts after you leave employment.

 

[KnyghtRyder]

Nice initiative appreciate!


Does that mean the ex coy will agree to compensate u for 3 years cos u cant join competing coy?

No.. it means they will compensate you, but may not be for full 3 years.. typically it is just a one off payment.

But you can't work for a competitor for that 3 years.

 

[Milodrink]

yea, but the amount is unlilkely to be the same as your last draw salary with them

it is usually lesser. maybe around half

U got such experience before?

 

[KnyghtRyder]

Yes, as long as you dun go join a competing company

how much is that compensation varies from company, region, local regulations etc

No.. it does not mean compensate you for a duration of 3 years.

 

[KnyghtRyder]

Means no work got money for 3 years is Gxgx?

You are not barred from working for non competing business and the compensation package is seldom so generous that it can fully support you for 3 years without employment.

 

[Milodrink]

No.. it does not mean compensate you for a duration of 3 years.

Then is pay a standard fee isit

300k is good

 

[KnyghtRyder]

It does read like that. To me, it also reads as applying in the other direction. That means should you break that clause, you will have to compensate them. But given the vague wording, there's a risk that it could mean a traditional non-competing clause where the former company doesn't compensate you for it but you have to compensate them in the event of a "breach". As with contract matters, it is best to have it explicitly spelt out in black and white for avoidance of doubt.

Anyway, I'm not sure if this is enforceable (ie legal) here in sg regardless of which type it is.

No.. it says economic compensation, so it is indeed a compensation.. if it was the other way then they would call it a penalty clause.

 

[KnyghtRyder]

You need to agree to compensation beforehand

First sentence is conditional on second sentence

Perhaps you should improve your English at all times
Starting from here?
Haha

Yes. I'm amazed that many people can't seem to read and understand contractual terms.

 

[Milodrink]

wah, got such good deal??

Saw your Gxgx me post but gone liao

 

[KnyghtRyder]

Then is pay a standard fee isit

300k is good

Amount to be agreed upon

 

[Milodrink]

Yes. I'm amazed that many people can't seem to read and understand contractual terms.

Understand text is one thing. It's not difficult.

It's understanding how realistic and viable in practical terms.

 

[Apparatus]

It simply means if your existing company is doing this type of business and after you resign and within 3 years you are not allow to work with the company's competitors

I heard of this before. Normally, for high tech company and those specialists or for company having proprietary tech.

 

[エステ好きな野郎]

Then is pay a standard fee isit

300k is good

what industry do you work in?

 

[KnyghtRyder]

Understand text is one thing. It's not difficult.

It's understanding how realistic and viable in practical terms.

No. It is about what will stand up in court.

 

[Milodrink]

Amount to be agreed upon

If 300k 400k then can consider for many ppl I think.

If some 50k then can forget it liao

 

[Milodrink]

what industry do you work in?

Techlor

 

[LocalRider]

3 years is v long leh… is the company giving 36 months of compensation?

Some companies will provide 6-months “garden leave” if the person has access to time sensitive sales or customer information, or give some customary job title for short period before transitioning out of company.

Non-compete clauses may not be enforceable.

https://www.mom.gov.sg/newsroom/par...n-competition-clauses-in-employment-contracts

 

[エステ好きな野郎]

Close.. but the three year starts after you leave employment.

yeah was too focused on the last bit

 

[Joseph12]

Yes. I'm amazed that many people can't seem to read and understand contractual terms.

I cannot contribute