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Think Automatic Vesting on a Change in Control Is Not Important? Ask This Former Employee
Winston & Strawn LLP 
Dec. 17, 2015 "[T]he court found that the language of the [long-term incentive plan (LTIP)] was clear; there could be no legal dispute that [the employee's] employment with the company had terminated, even though she continued to sit at the same desk and perform the same job functions on the day after the sale of OCD as she did on the day before the sale. The LTIP did not provide for accelerated vesting of [this employee's] RSUs. The provisions of the LTIP on change in control simply did not apply to the sale of a division of the company." [Timian v. Johnson & Johnson, No. 6:15-cv-06125 (W.D.N.Y. Oct. 26, 2015)] MORE >> |
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