Notice buy-out
Hi,
I’ve put in my official request of resignation with my current employer and my next employer wishes to buy-out my notice period of 60 days.
The HR of my current firm said that they don’t let anyone buy out their notice period and it’s mandatory to serve the full notice period.
However, it’s mentioned in my offer letter. Kindly refer to the below:
Upon your confirmation, either Party shall be free to terminate
this Agreement at will and, at any time, with or without cause,
upon sixty (60) days prior written notice by the Party desirous
of terminating this Agreement or payment of equivalent salary
in lieu thereof or a combination thereof, at the discretion of the
Company. In case you have received or otherwise entitled to
any joining bonus/sign-on bonus and, you exercise the option
of terminating this Agreement within the period agreed as per
your joining bonus/sign-on bonus letter, you shall be liable to
refund to the Company such joining bonus/sign-on bonus as
paid to you by the Company which shall be in addition to the
sixty (60) days written notice or salary in lieu thereof or a
combination thereof.