Rsu Vesting During Notice

Summary

The definition of service in your RSU agreement is crucial for determining if your stocks will vest during your notice period. Typically, service ends when you stop providing services, and notice periods may not extend employment. The Committee has discretion over service cessation. Review your RSU agreement and consult HR or a local employment lawyer for clarity.

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Definition of service in the contract:
The definition of "service" in your RSU contract is crucial in determining if your stocks will vest during your notice period. Commonly, "service" or "continuous service" includes the period during which you are officially employed, even if you are serving out a notice period. However, this can vary based on the specific terms of your contract.
Here are the key points to check in your RSU agreement:
- Continuous Service Definition: Look for how "continuous service" is defined.
- Vesting Conditions: Review the specific conditions under which your RSUs vest.
- Notice Period Clause: Check if the notice period is explicitly mentioned.
If you need further assistance, consider consulting your HR department or a local lawyer specializing in employment law. Would you like help finding a local lawyer in Central Bohemia?
Service will mean service as an Employee, Director, or Non-Employee Director, to the Company or a Parent, Subsidiary, or Affiliate, subject to such further limitations as may be set forth in the Plan or the applicable Award Agreement. An employee shall have terminated employment as of the date he or she ceases to provide Service (regardless of whether the termination is in breach of local employment laws or is later found to be invalid) and employment shall not be extended by any notice period or garden leave mandated by local law, provided, however, that a change in status between an Employee, Consultant, Director or Non-Employee Director shall not terminate the Participant’s Service, unless determined by the Committee, in its discretion or to the extent set forth in the applicable Award Agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide Service and the effective date on which the Participant ceased to provide Service.
Based on the definition provided, it seems that your notice period may not count as "Service" for the purpose of your RSU vesting, as employment is deemed terminated when you cease to provide Service, regardless of any notice period.
Key points:
- Termination of service occurs when you stop providing the Service.
- Notice period or garden leave does not extend employment.
- The Committee has discretion over the determination of Service cessation.
For a definitive answer, please consult your HR department or a local employment lawyer.
Would you like assistance finding a local lawyer in Central Bohemia for more detailed guidance?