EMPLOYEE STOCK PURCHASE PLANS -
EMPLOYEE STOCK PURCHASE PLANS: EMPLOYMENT -
Labor Concerns -
To reduce the risk of potential claims from employees that they have entitlements under Plans, Plans should be carefully drafted so that it is clear that participation is discretionary and that termination of employment will result in the loss of unvested rights.
It is no longer possible to provide that an employee whose employment is terminated for cause or gross misconduct will lose his acquired rights. All employees should be treated in the same way, regardless of the grounds for termination. Certain French company savings plans (including the French qualified employee stock purchase plan ("PEE")) must be negotiated with employee representatives if the company has union delegates or a works council.
Please see full publication below for more information.