For all of us who've been terminated we have the option to retain our unvested RSUs if we're willing to take the value of our severance in the form of unvested QCOM stock. The severance and the balance of our unvested RSUs begins vesting after 18 months and both are fully vested in 3 years.
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169105: IF and when you accept the deal, and they agree with your interpretation, make them write it in plain language in the severance agreement, just as YOU understand it. Also look for any clauses that would allow them to rescind the deal under certain conditions. I would be wary of signing off on any severance compensation clause that contained words like "conditioned" or "contingent," just on general principle. People tend to "speed read" right over them. You should be permitted to take the agreement to an attorney if you do not understand it completely. If HR tells you that you have to sign right away, be very wary.
Don't be so quick to discount the offer. If true (and who knows given the amount of BS here), it could be a really good deal. Suppose you've been getting $15k in RSUs every 6 months. This means at any given time you have around $60k in unvested RSUs. Suppose you've been at the Q for 5 years, so the basic severance might be 4+10weeks, or about 3 months. At a $120k salary, that's $30k. The way I read the OP's deal, if I take the $30k as stock vesting over 3 years, I get to keep the $60k in unvested RSUs as well. That's a gimme. The stock would have to drop 2/3 to lose money on the deal.
TAKE THE CASH!. Never trust QC to abide by a contract. And read the fine print/escape clauses in that K. Ibet that deal could change if there was a major corporate M&A or selloff. In a situation like this, the only time you take the stock is if it has fully vested, AND you either need a future loss, or are willing to risk the loss in hopes that it will go up in the future, or that long term dividends will make it worthwhile. Future RSUs are just that: FUTURE. If QC laid you off, they basically told you that you have no future there.
This would essentially be equivalent to taking your severance and buying QCOM stock with it. Actually, it's worse, because you're buying non-leveraged stock that has restrictions on when you can sell. No wonder the OP is on the lay off list. He/she is an idiot. Gives me more confidence that the correct people were targeted.
Liar liar pants on fire