Company founder stayed on as an employee, but agreement and release couldn’t remove previous service from notice entitlement
The sale of a business can be complicated, particularly when the original founder stays on with the company as an employee. It became more complicated for one Ontario company that thought it had contracted out of the notice requirements for an employee’s prior service before the purchase of the company but found it could not — and had to pay more than $300,000 in termination and severance pay.
