Nassau New York Liquidated Damage Clause in Employment Contract Addressing Breach by Employer

State:
Multi-State
County:
Nassau
Control #:
US-01154BG
Format:
Word; 
Rich Text
Instant download

Description

An employment contract may state the amount of liquidated damages to be paid if the contract is breached. Upon a party's breach, the other party will recover this amount of damages whether actual damages are more or less than the liquidated amount.

If the agreed-upon liquidated damage amount is unreasonable, the Court will hold the liquidated damage clause to be void as a penalty. If the Court declares the clause to be void, the employee would have to prove the actual damages.

How to fill out Nassau New York Liquidated Damage Clause In Employment Contract Addressing Breach By Employer?

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Nassau New York Liquidated Damage Clause in Employment Contract Addressing Breach by Employer