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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: w molloy who wrote (29503)	5/8/1999 1:30:00 PM
From: FedWatcher	Respond to of 152472

W molloy, I do not have it in front of me right now, but I did talk to few people at QCOM and the current plan works something like this. When you are hired you are given X amount options. The X usually depends on your salary and your position. You get 20% of your options after the first year of service, the next 20% after the following year and so on. When few months ago few hundred people got laid off, they did not get their unvested options. Basically, if employment with the company terminates for any reason, then the unvested portion is lost. This is done to reflect the fact that the options are a reward for contribution to the overall success of the company. If somebody stops working for the company, then they do not contribute to its success any longer, so there is no reward. I think it is logical. The laid off people where given I think a month to exercise their vested option after the termination date. Hope this helps to clarify the issue. Cheers