Question about becoming "vested"

[One4OU]

Do employees auomatically become vested when a company sells majority ownership to another company?

I have been debating taking another job and am concerned about becoming vested. If I take the job now I am not vested and will lose the company contributions. If I hold off until the end of Novemeber the sell off would be final and I could possibly keep the company's money. Right now I am trying to decide which is better.

Unfortunatley no one can get the answer from HR....

[Condescending Sooner]

It varies depending upon the agreements worked out by the companies in question. I wouldn't bank on it.

[Fugue]

http://www.uberreview.com/wp-content/uploads/pet-life-vest.jpg

[crawfish]

It can be written in to any agreements, but it usually isn't.

How much do the owners seem to care about the employees? Most buyers would NOT want to automatically vest the employees, as that might encourage them to leave too soon; are your owners dedicated enough to demand something like that?

There might be some bonuses offered to those who choose to stay, or to "key employees" that they want to hang onto.

I wouldn't count on anything. Just go with your gut, and don't look back.

[sooneron]

????


http://www.heudnsk.com/abandoned/bad_vest_1.jpg

[Hamhock]

read the SPD.

it all depends on what the SPD says and what type of sale it is. stock or asset.

i'd e-mail HR every day until they gave me an answer.

[Chuck Bao]

My advice is to sit tight, but that depends on your payout package and how many years you've been with the company.

If you have a new job lined up and they want you, they have the option of trying to pay up front your compensation or wait for this deal to play through. They should understand that and be upfront.