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Ben Jones
Ben Jones, UK Lawyer
Category: Employment Law
Satisfied Customers: 19350
Experience:  Qualified Employment Solicitor
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My employer is withdrawing a share scheme that I was a

Customer Question

My employer is withdrawing a share scheme that I was a member of and I would like to know my legal position
JA: Where are you? It matters because laws vary by location.
Customer: In the UK
JA: What steps have you taken so far?
Customer: none, the company has not made a formal announcement to all affected employees. I am looking to understand my legal position in anticipation of the company's announcement
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: The share scheme was part of my overall compensation package when I joined the company 4 years ago. It's written into my contract. There are some detailed reasons behind why I believe the company will be withdrawing the scheme (connected to a Chapter 11 bankruptcy process that the company's parent company is going through) which I can share with the lawyer
Customer: The share scheme was part of my overall compensation package when I joined the company 4 years ago. It's written into my contract. There are some detailed reasons behind why I believe the company will be withdrawing the scheme (connected to a Chapter 11 bankruptcy process that the company's parent company is going through) which I can share with the lawyer
Submitted: 12 days ago.
Category: Employment Law
Expert:  Virtual-mod replied 12 days ago.
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Expert:  Ed Turner replied 11 days ago.

Hello.   I am Ed, a Solicitor qualified in England & Wales with over a decade’s experience in the legal profession advising clients.

I specialise in Commercial Contracts, Business Transactions, Employment, Dispute Resolution, Personal Injury and Road Traffic Law and shall be reviewing your legal problem today.

Regarding the site’s automatic offer of a Premium Service Phone Call, I shall be delighted to talk with you by phone to discuss your issue in greater detail if you accept the offer.

However, if you do not want a phone call, please cancel the offer for a Premium Service Phone Call and you will not be charged extra.

Expert:  Ed Turner replied 11 days ago.

To enable me to answer your query, please provide me with some further information about your legal issue and how you want a lawyer to help you.

Customer: replied 10 days ago.
I don't see any offer of a premium phone call but please do cancel as I would not accept any such offer. What other information do you require? I am looking to understand if my employer would be in breach of my employment contract if they withdrew the share scheme? If so, what are my options? I obviously can't force them to grant me shares each year if they listed patent company is no longer a listed company (once it exits from chapter 11) but would I be able to raise a grievance if my employer didn't replace the share scheme with something equivalent (increased bonus or an uplift on basic pay) to compensate for the loss?
Expert:  Ed Turner replied 10 days ago.

I can review a brief amount of documentation from the customers (up to 20 pages or so).

The phone calls generally last around 20 – 30 minutes at most.   I will let you know if we are going around in circles and I am repeating myself.

You will not receive any additional documentation from me or Just Answer (apart from payment confirmation).

I will discuss my fees with my main virtual law firm on the call.   Under my Just Answer Expert Agreement, I cannot provide Customers any direct contact details or information about my law firm’s charges unless they accept a Premium Service Phone Call.

If you choose to instruct me directly through my law firm, this will be a different contract from yours with Just Answer.   I will open a new client-matter for you with my firm and send you retainer documentation in the form of a Client Care Letter and Terms of Engagement.

Expert:  Ed Turner replied 8 days ago.

I have considered your issue in further detail and it lies outside the scope of my legal expertise.   I believe that you need an Expert in Employment, Company, Commercial Contracts and Bankruptcy Law qualified to US State Bar Association where the company is based the in the USA.   I will “Opt Out” of this thread and allow another Legal Expert the opportunity to assist you.