Employment Lawyers Can Answer Your Employment Law Questions
Hi Ben, thanks.
I haven't asked to add my right to exercise these options although I am not an employee (e.g one year after termination date), but I did negotiate about considering these options when calculating the ex-gratia amount.
The amount I am asking for was 30K + 3 months notice (they want to pay it in lieu, I said I don't mind working 3 months or not).
This amount is calculated based on the time they would need to spend if applying redundancy procedure properly ( ~2 months) + some percentage (not 100%) of these shares (currently worth 25K).
They said NO WAY unvested options can be considered and they explicitly put into CA draft the following:
"The Employee shall have 90 days from the Termination Date to exercise any stock options which were vested up to the Termination Date. For the sake of clarity, all other stock options granted to the Employee to purchase shares of NICE Systems Limited shall lapse and expire on the Termination Date and Employee shall have no right or claim in respect thereof."
Hope this answers your question,
Relist: Other. I really need advice today. Would wait for Ben if I knew when he would be back online.
Any chance somebody replies? 5h elapsed...
Yes I do. Please
thanks very much Ben.
was the perfect piece of information.
For Ben Jones onlyHi Ben,
I decided to sign the CA offered. Would you be able to review it? Company pays 500£ for an independent legal advice. I am based in London. Thanks.