I am stuck as to how to get myself out of a contract. Hopefully someone can provide some insight.
In addition to my standard 2 year contract with my employer (through moea) I had signed a ‘education contract’ which paid for part time studies at a local grad school. When I signed this contract 2 1/2 years ago I was unaware exactly how severe the penalties for not fulfilling the contract are. To complete the contract you must stay with the employer for a specific length of time after completing your studies. If you break this contract you owe the employer money based upon a specific formula. Unfortunately for me this adds up to a total greater than my yearly salary and a sum at least 4 times what they invested.
I know I cannot possibly pay the money and I know for a long list of reasons that staying with this employer for another year (the length of time left) would not be something I am so eager to do.
Of course, I am trying to find a way to leave this job without ‘burning bridges’ or breaking laws. Though I have been sparse on the details, does anyone have any negotiation strategies? If I did leave without fulfilling the contract what legal recourse might they have (it’s a government institution)? Since I likely won’t find work in Taiwan, will they hold my wife responsible for the problem (she will stay here and join me later)? Will breaking this contract affect my ability to work in Taiwan again in the distant future?
Any insight appreciated and I could go into greater detail if necessary.