Saturday, April 19, 2008

$1.8mio for doing nothing...


When you get paid $1.8mio by your company (or ex-company) for doing NOTHING for 6 months, you know you have reached THERE!!!!

Well this is exactly what happened when DBS Bank paid Mr Jackson Tai for the promise not to join a competitor or poach current DBS staff for a period of 6 months. His last salary package was already in the region of $7mio plus. (BT Apr 3, 2008)

While you may have signed on the employment contract to accept "non solicitation" and "non competition" clauses when you first joined the company, the Law also sees favourably of the need for a person to make a living and that your ex-company could not unreasonably restrict you from exercising your profession with a company in the same industry unless..... you have been specifically compensated ie. PAID to go on garden leave...

Well Mr Tai, all the best to you and enjoy your garden leave with your family. Till we hear from you again, adieu.

1 comment:

Anonymous said...

not everyone as lucky as he is...
some people indeed have their existency well valued :)