Legal Question in Employment Law in Iowa

What are my options - demotion vs. severance
I have been employed at my company for 4 yrs. We are publicly traded and employ close to 2000 employees. We will soon be merging with a parent company. I was told the other day that my new AGM ''does not have confidence in my ability to have tough conversations with my employees''. I am currently a district sales manager. They are suggesting that I step down into a senior sales role. Here is the issue, I have had only one interaction over the phone w/the AGM over in the few mths he has been on board. To add to the issue, my current GM has is also new to the organization and only a mth ago offered that that I take on addl territory/employees as I was doing a ''great job''. I have several stock options that will vest in upcoming mths & many more that will eventually vest as soon as a change in control takes place between the companies. I have lost all faith in our new leadership and would like to resign. Our VP of Sales has offered vesting of the options that will soon be coming up if I resign. I want to request ALL unvested options or the cash equivalent in addition to other items. I have kept copious notes of all the mixed messages and questionable events that have taken place over the last several mths. What are my rights?

Asked on 12/11/05, 10:53 pm

David Anderson Anderson Business Law LLC

0 users found helpful

0 attorneys agreed

Re: What are my options - demotion vs. severance

I would like to see any employment agrements or employee manuals before advising you of important contract matters such as this.

You may be better off demanding a severance package based on years of service.

Are you familiar with any other management terminations in the past year or two and the terms of severance offered?

Call or e-mail for assistance.

Answered on 12/12/05, 7:14 am

Keywords

Match Any Match All

Country

State

Area of Law