Issues are settled, exs. lawyer has drawn up the consent order for property division and I am unsure of some wording.
There are some stocks that were granted and have not vested yet and these were divided as property.
If stbx leaves this employer voluntarily we have agreed that he will pay me cash for any un-vested stocks. If he continues to be employed by this company, these shares will vest in the next couple of years and be paid out and divided and this part of our property division will be complete.
Currently the financial management company that holds these stocks withholds 40% of the stocks for tax purposes and then the remainder are divided between us.
If stbx leaves this employer, these stocks disappear, which is why stbx agreed to pay me out for any un-vested stocks. He did not want to be forced to stay with this employer if he had an opportunity for other employment, I also agreed.
Question:
Is this correct when it says that if he leaves voluntarily the Plaintiff shall pay to the Defendant 50% of the net, after-tax value of the non-registered shares as set out in the property schedule and calculated at the Plaintiff's personal tax rate.
I am trying to get this order granted before the end of the year so that the transfer of property can take place.
Thank you
There are some stocks that were granted and have not vested yet and these were divided as property.
If stbx leaves this employer voluntarily we have agreed that he will pay me cash for any un-vested stocks. If he continues to be employed by this company, these shares will vest in the next couple of years and be paid out and divided and this part of our property division will be complete.
Currently the financial management company that holds these stocks withholds 40% of the stocks for tax purposes and then the remainder are divided between us.
If stbx leaves this employer, these stocks disappear, which is why stbx agreed to pay me out for any un-vested stocks. He did not want to be forced to stay with this employer if he had an opportunity for other employment, I also agreed.
Question:
Is this correct when it says that if he leaves voluntarily the Plaintiff shall pay to the Defendant 50% of the net, after-tax value of the non-registered shares as set out in the property schedule and calculated at the Plaintiff's personal tax rate.
I am trying to get this order granted before the end of the year so that the transfer of property can take place.
Thank you
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