I realize this is probably wishful thinking and something I should already know. If we’re on the corporate bonus plan and our ABO is a significant portion of our total comp, what happens if we get laid off? The year is half over and that’s a good chunk of change. Is any of that prorated and paid out to us or are we SOL? I’ve read through all the threads and it seems like severance just covers your base salary, not ABO. Any info on this would be appreciated:)
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If you have unvested stock awards, check the paperwork. It likely says that if your eligible for severance payment, all the shares will immediately vest.
You have to be employed 12/31...to rec annual bonus
It depends on timing. You absolutely can be laid off and still receive an ABO allocation.
Thanks everyone for the info. Lesson learned…don’t get get so distracted by KC and ABO% that you don’t negotiate your base salary:(
Unfortunately, there is no prorated bonus. You do keep any advances distributed in May, Aug, and Nov though. As far as unvested stock options go, in the past I heard they become fully vested. I don't see this documented at severance, but I think that was done in previous layoffs. But don't necessarily count on it though. Good luck.
You will loose all of the unvested shares.
what about unvested share awards? any chance those are vested at layoff time?
If you get laid off, no bonus