Missouri Proposal to approve restricted stock plan

State:
Multi-State
Control #:
US-CC-20-168-NE
Format:
Word; 
Rich Text
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Description

This sample form, a detailed Proposal to Approve Restricted Stock Plan document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

Wages. Reportable wages include gross payments plus the reasonable cash value of any goods or services which the employee receives for work performed in lieu of money. These are called ?in-kind? wages (meals receive special treatment). Bonuses, commissions, vacation pay, holiday pay and termination pay are wages.

It may come as a surprise, but Missouri has no legal mandate regarding breaks during the workday. This essentially means that employers are not required to provide a break to their employees, even through an entire eight-hour shift. However, this doesn't mean it is not possible.

Deduction. An employer may deduct funds from an employee's wages for cash register shortages, damage to equipment, or for similar reasons. Deductions can be made from an employee's wages as long as the deductions do not take the employee's wages below the required minimum hourly wage rate.

A restricted stock unit (RSU) is a form of equity compensation that companies issue to employees. An RSU is a promise from your employer to give you shares of the company's stock (or the cash equivalent) on a future date?as soon as you meet certain conditions.

It is important to note that Missouri does use at-will employment laws, as do most other states. Most employees will fall under these laws if they do not have a contract. What this means for you, as an employer, is that you can fire employees whenever you wish. They can also quit at will.

Missouri has no minimum or maximum amount of hours you have to work to be considered full-time or part-time. Instead, they leave that up to your employer to decide.

Employers are required to pay a discharged employee all wages due at the time of dismissal. If not paid at that time, the employee should contact his or her former employer by certified mail return receipt requested, requesting wages that are due. The employer has seven days to respond to the written request.

Restricted Stock Units cannot be sold or transferred while they are subject to forfeiture. This means that the employee cannot sell or transfer the units until they are vested.

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Missouri Proposal to approve restricted stock plan