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if for any reason, you voluntarily terminate your employment with the Company, or are terminated for just cause before you complete this two-year period of service from your commencement date, you agree to indemnify the Company without need of notice or demand the amount of 100,000 as liquidated damages, expenses incurred in providing relocation assistance and allowances, without prejudice to such other liabilities or damages, to which the Company may be entitled under the law and other applicable terms of this employment contract. Said liquidated damages shall be payable immediately upon violation of said condition, or maybe deducted against your receivables from the Company, if any, at the Company’s option. The Company may, at its sole discretion, require you to post a bond equivalent to said amount upon the commencement of your employment or during the course thereof.
can you help me interpret what liquidated damages are?
*update
what do they mean by liquidated damages? per my understanding liquidated damages are expenses incurred in providing relocation assistance and allowances. if they did not spend for my relocation i haven't done any damages
Last edited by gonnom on Wed Aug 07, 2013 1:23 pm; edited 1 time in total
