This policy outlines procedures for terminated employees to exercise vested options.
The sample states that terminated employees must exercise vested options within 30 days of their termination date or they will automatically be cancelled. Unvested restricted stock is forfeited immediately upon termination. Procedures include: HR representative manually terminates employee in client ERP system’s HR module or the local HR system; For US employees – Client ERP system’s HR module updates client payroll system daily. Weekly Payroll sends IT the Optionee file. Optionee file includes all HR related changes made in client ERP system’s HR module and client payroll system for that week, etc.