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H1B bond with current employer

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  • H1B bond with current employer

    Hi,

    I came to USA on H1B on deputation and my USA joining documents had a clause saying that I have to serve either 3 months notice or pay $1000 if I move out of current employment.

    Below are the exact wordings present in the joining documents.

    Employee Notice of Termination; Liquidated Damages: I agree to provide the Company with at least ninety (90)
    days advance written notice should I decide to terminate my employment within one year of my deputation to
    US. I acknowledge that at least ninety (90) days advance written notice is reasonable and necessary because of
    the substantial time, effort and expense the Company will incur in replacing my services.

    After completion of one year of service in US, I recognize that every project obtained by the Company is unique
    in nature and should I fail to abide by my agreement to provide at least four (4) weeks advance written notice of
    termination of my employment, the Company will suffer significant and extensive damage, including training of
    replacements, job interruption and consequential damages in the nature of loss of good will and substantial loss
    of income should a project be terminated or interrupted as the direct consequence of my breach of this
    Conditions of Employment Agreement.

    I recognize in the event that I terminate my employment without providing the Company with the above notice
    period, damages would be difficult to accurately ascertain and I agree that the amount of Ten thousand
    ($10,000.00) dollars is a fair and reasonable sum that best approximates the damages that the Company would
    incur in the event of my breach of this provision.

    Thanks for response in advance.

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