I've also been forced to become a huge ETE supporter. That extra bonus will be nice.
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Standard severance (layoffs between now and ETE): (Two week's pay) x (# full years of employment).
Severance Payment if Change in Control Occurs: ((Three week's pay) x (# full years of employment)) + ((base salary/10,000) x (one week's pay)) + (prorated 2016 AIP @ target %)) - standard severance already received.
Prorated bonus calculation: (AIP Target %) x (2016 days of service/365) x eligible base salary
Hope this helps everyone. GO ETE. Williams is dead.
Yeah, Imagine you have a new job lined up in June, July, whenever, and the Change in Command occurs. While you are already on a new payroll. Check out that bonus. I was anti-ETE as well, but they might as well take over and do what they want with a company that as already destroyed themselves. Especially John Seldenrust.
Yeah. There's a standard severance package that we get, but in the paperwork they also spell out what the enhanced severance package will be if ete takes over. If ete takes over they will send us all another check.
Whatcha mean big money if the deal goes through? I haven't heard what kind of severance is being offered.
Look at the bright side, we get to start job hunting before 1000 more people get let go when the ETE merger happens!
Now that I've been laid off I rooting like hell for the ETE deal to go through. Big $$$ if that happens.
The direction this company is headed, I realize I want nothing to do with. For the better. Good luck everyone else when ETE takes over. But unless you have something wonderful lined up you wouldn't want to miss on that enhanced severance after the CIC if executed by Dec 31