This is kind of similar to the question in here but a bit specific to a particular situation. My company ( a public company ) was recently bought by a private company. In the agreement, it said all vested RSUs will be bought at a certain price. But regarding unvested RSUs, the notice had
Unvested options and unvested RSUs will be treated as follows:
- Unvested options and RSUs will be converted into the right to receive the Option Consideration or the RSU Consideration, respectively, to be payable to such employees in accordance with the current options/RSUs vesting schedule, subject to their continued employment or services.
In the event an employee eligible for Option Consideration or fiSU Consideration is terminated other than for cause by the buyer within 12 months after the closing, such employee will receive the greater of the Option Consideration or the RSU Consideration, respectively,
(i.) had such unvested options or unvested RSUs vested until the one year anniversary of the closing and
(ii) had the unvested options or unvested RSUs accelerated pursuant to the existing acceleration provisions in the award agreements for such unvested options or unvested RSUs.
I was bit confused about this. What is right to receive the RSU consideration? The second condition mention in case the employee is terminated. I assume the same will be applicable if employee leaves the company which makes it important for me as well as I will be leaving the job soon. Can someone explain this please?