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Severance pay status after acquisition and refusal to accept retention agreement

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  • Severance pay status after acquisition and refusal to accept retention agreement

    As a salaried employee in NY, I have a signed contract that offers severance pay - for four months - if my employer X terminates my employment without cause. Contract also include two months of notice if either party decided to terminate employment. My X employer has been acquired by employer Y that's based in CA and Y has offered me retention agreement - for nine months - that's not favorable - overall compensation is lower. Y informed I would remain X employee during retention.

    Is my contract with X still legally binding and enforceable?
    Could I refuse to accept Y's offer?
    Do I still have to serve two months of notice?
    Would this be ground for termination?
    Would I get severance pay?

    My preference is to move on.
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