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Jun29

Compensation

Compensation
Employee Payroll Action Form
W-4 Employee Withholding Allowance Cert.
Employee Payroll Status/Change Form
Direct Deposit Form
Total Compensation Summary

A private company is running out of money. The owners decided to lay off 90% of the employees but still keep the company in business. At the time of termination, the owners still didn’t fulfill all the obligations written in the employment agreement (contract) such as stock options. Do I have rights to ask for stock options or any other form of compensation? It is in California.

Yes, you can ask for your stock options and other benefits that were included in your employment contract. You can certainly hire an attorney to sue for your promised benefits. However, it looks as though in the very near future that stock is going to be worth nothing — because the company will likely be out of business. So you need to decide if it really makes sense to pay a lawyer to pursue this.

This entry was posted on Sunday, June 29th, 2008 at 8:17 am and is filed under
Compensation.
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