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Showing content with the highest reputation on 07/07/2014 in all forums

  1. The well-written ones, anyway. What is the answer if the amendment just changes the schedule as of the amendment's effective date and says nothing about former employees or hours on or after or anything? I for one think they are stuck and have to give the wind fall to the terminated person if they just talk about the effective date. If someone is mad look to the person who drafted the amendment. Being careful and drafting it to only include people who worked 1 hour after a given date is vesting amendment writing 101 and I find the sloppy writers learns the hard way only after making the sloppy mistake once.
    1 point
  2. it really depends on how the amendment was written. A carefully written amendment will say who the change effects. You would like to see some thing like this in the wording, "this vesting schedule applies to anyone who worked 1 hour after xx/xx/xxxx". A poorly written one will just say all participants as of xx/xx/xxxx use the new vesting schedule. If it reads like that the terminated person has a much stronger case. A terminated person with a balance is still a participant and if that was true as of xx/xx/xxxx a simple and literal reading says they are 100% vested now. So read the amendment carefully.
    1 point
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