Deferred Comp: COVID Layoffs
MM boutique is thinking about layoffs to cut overhead in anticipation of slowed dealflow due to Covid. Are analysts/associates typically owed their deferred comp (golden handcuffs) if they are let go not due to performance?
Yes, as long as the employee is not fired for cause, deferred compensation would either (i) be accelerated and be paid immediately or (ii) continue to vest on the original schedule.
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