L
Lone Shark
Guest
Hi
Apologies for being so blunt as to lead with a request for help but to be honest I'm an occasional lurker who only very recently had reason to register....
Just to explain my situation, I'm a former employee of a well known Irish plc, and did have a fair amount of responsibility. Due to this, in 2002, as reward for efforts put in, I was awarded stock options, vestable in 2005. At the time i was assured by my boss, but verbally only, that there were no conditions, however in mitigation, he's an old school guy who mightn't really have known exactly what he was talking about.
In 2004 I left the company due to burnout, on good terms, and after some time off, went travelling. Last year I went to exercise the options but was then told by the company secretary that they were forfeit due to my leaving.
The facts are the following:
(1) I have an option cert, with the company seal and signed.
(2) Accompanying that cert, I have a letter, that stated nothing more than these options were issued "subject and pursuant to the rules of the scheme"
(3) The company maintains that this is a standard clause which is true, but even then surely we should have received notification?
(4) I never received (or sought) the "rules of the scheme"
The reason I ask here is that due to a few reasons, I'm not in a position to engage in a costly legal affair. If I believe that I have a case, I will present it as such, and am pretty sure that I'll be able to reach a settlement. However does anyone have any idea how I stand from a legal viewpoint?
All opinion/comment gratefully received folks....
Apologies for being so blunt as to lead with a request for help but to be honest I'm an occasional lurker who only very recently had reason to register....
Just to explain my situation, I'm a former employee of a well known Irish plc, and did have a fair amount of responsibility. Due to this, in 2002, as reward for efforts put in, I was awarded stock options, vestable in 2005. At the time i was assured by my boss, but verbally only, that there were no conditions, however in mitigation, he's an old school guy who mightn't really have known exactly what he was talking about.
In 2004 I left the company due to burnout, on good terms, and after some time off, went travelling. Last year I went to exercise the options but was then told by the company secretary that they were forfeit due to my leaving.
The facts are the following:
(1) I have an option cert, with the company seal and signed.
(2) Accompanying that cert, I have a letter, that stated nothing more than these options were issued "subject and pursuant to the rules of the scheme"
(3) The company maintains that this is a standard clause which is true, but even then surely we should have received notification?
(4) I never received (or sought) the "rules of the scheme"
The reason I ask here is that due to a few reasons, I'm not in a position to engage in a costly legal affair. If I believe that I have a case, I will present it as such, and am pretty sure that I'll be able to reach a settlement. However does anyone have any idea how I stand from a legal viewpoint?
All opinion/comment gratefully received folks....