No announcement yet.

independent contractor termination Montana

This topic is closed.
  • Filter
  • Time
  • Show
Clear All
new posts

  • independent contractor termination Montana

    In August of 2006, I entered into a contract with a Montana based "employee owned" company to perform computer consulting / programming work. I had been an employee at the corporate offices for 11 years.

    My question is about contract termination: should I expect to be told that the contract was terminated?

    contract wording: Termination. Consultant and [company] are each free to terminate Consultant's provision of services at any time, for any reason or no reason, with or without notice.

    I haven't heard from them regarding work for over two years. the question of the contract being terminated comes up because there is a provision in their ESOP documents that says someone with an ongoing contractual relationship with the company will have their ESOP account remain primarily in company stock. My stock was repurchased after the 2006 plan year and the funds placed in a money market fund. The company is allowed to withhold distribution of the funds until late 2011.

    there are a couple reasons I am interested in when the contract was terminated: In 2006 the value of my stock went up $90,275 to a total of $387,460. The 2007 and 2008 valuation increases may have been similar. Participants with stock in their account may elect to withdraw 25% of their ESOP funds at age 55 and similar amounts in later years. I turned 55 in 2007.

    thanks for any assistance you may be able to offer ...