Leaves of Absence/Consulting

Review the following general guidelines regarding changing status to go on a Leave of Absence, or to become a Consulting Employee or an Independent Consultant. In all cases, you should refer to the agreements under your awards were granted and the associated stock plans to determine the effect of your status change on your vesting awards, including vesting provisions.

Leave of Absence

If you change your status to Leave of Absence, you are considered an active employee. However, the type of leave you are on may have different effects on your stock awards and participation in stock plans.

Restricted Stock ― vesting on restricted stock will continue while you are on a Leave of Absence.

Stock Options ― if you change your status to a Leave of Absence other than medical, family and military leave, your options will not terminate nor will vesting cease solely as a result of your status change. However, while on this type of Leave of Absence, you may only exercise the stock options that were vested as of the date your leave became effective. The expiration date of an option will not be extended due to this type of Leave of Absence status and your award may expire while you are on leave. If you return to active status, you may exercise any unexpired options that vested while you were on this type of Leave of Absence. If you terminate your affiliation while on this type of Leave of Absence, your options will cease vesting and you will not be able to exercise any options that vested while you were on this type of Leave of Absence.

Employee Stock Purchase Plan (ESPP) ― if you change your employment status to Leave of Absence (non-medical), you will be treated as having withdrawn from the ESPP. An eligible Leave of Absence (medical, military and family) is considered an active status and there would be no change to your ESPP account.

Consulting Employee

A change from the status of "employee" to "consulting-employee" results in no change to your direct stock holdings. Consulting employees must work at least 180 hours in any 12-month period to be eligible to remain in this status. In addition, vesting on restricted stock and options will continue.

Independent Consultant

If you change your status to independent consultant, your unvested stock reverts back to the company. As an active independent consultant your vesting options continue to vest in accordance with the terms of the applicable award agreement.

Note: It is recommended that you contact Stock Programs and Retirement Programs prior to changing your status to determine the specific impacts on any type of stock holdings you may have.