Only one more day to sign the MMA or we lose our FY18 sales equity. Anybody else foolish enough like me to not sign it?
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Yes, they can change the terms on a take-it-or-leave-it basis. Where there are tax-deductions involved, like with changes to employee benefits or compensation plans, there may be some restrictions from laws like the tax code or ERISA. The unpleasantly tricky part is whether or not an employee gets unemployment compensation when quitting because of the change in terms. I would figure that any change in terms of employment terminates an implied contract and starts a new one, and that the employee has been fired if they do not accept the change, but that is not how it works. It actually depends on state law, and it typically depends on something like whether or not the change was serious enough that the typical employee would figure that they ought to quit. So it is not something that you can be too sure about.
naiive question, but even in "at-will" employment states, is it legal to change the conditions of employment? Is it different for commission-based (sales) employees vs other exempt employees (or non-exempt employees)?
As another commenter noted, they're "not messing around". Given the chronic mismanagement and resulting problems at Ford and GM, and CDK's mismanagement and dependence on the domestic US car biz, they must see that the future is not very bright, and change gonna happen fast and accelerate.
It's an academic question for me. I voted with my feet after several years of working at CDK, and voted with my wallet by selling all my CDK stock and exercising options. It's pretty amazing how fast it's swirling around the bowl, even when all the signs were clear before the spinoff from ADP.
I didn't sign it. I left. You should too.
Which is why I quit and easily found another job that had better pay and a value system far closer to humane. Seriously - short of a visa situation, why are you staying?
If you don't plan to quit next month, accept the agreement. In a meeting with people who hadn't accepted the agreement as a condition of getting the restricted stock award, the lead counsel, Lee Brunz I believe, said that next year acceptance will be a condition for variable compensation, and possibly continued employment. They are not messing around.