If I receive a severance package with a one year bridge and the company merges with another company before performance stocks are paid, shouldn't I be paid cash at the time of closing like all other current employees since the target for the performance s

I found out that my position was being eliminated and that I would be given a severance package that includes bridging me one year to 20 years for pension reasons. The severance also includes a 2/3 payout of performance stock that has a three year vesting period. However, the company is merging with another company and at the time of close, in two months after my last day worked, they are paying cash to all current employees for their outstanding performance shares since targets will change with the new company. They are waiting until Q1 of 2016 to decide if I get paid the 2/3 based on an old target that will no longer exist based on the merged company??? Since I am being bridged and getting paid biweekly during that time and staying on the companies health and dental plans during that time, shouldn't I be treated like the other employees at the time of the close and be paid cash for the shares?

1 answer  |  asked Apr 28, 2015 09:48 AM [EST]  |  applies to Illinois

Answers (1)

Antoinette Choate
There is not a simple answer to this question. Someone should review your contract to help you determine the answer to this question.

posted by Antoinette Choate  |  May 8, 2015 09:17 AM [EST]

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