View Single Post
Old 10.06.2021, 12:13
bokabil bokabil is offline
Join Date: Feb 2016
Location: Zürich
Posts: 151
Groaned at 2 Times in 2 Posts
Thanked 196 Times in 81 Posts
bokabil is considered knowledgeablebokabil is considered knowledgeablebokabil is considered knowledgeable
Re: New employer wants me to start before end of current contract

View Post
As you are already in your notice period, you can potentially get away with starting with the new company during your 'vacation'.
BUT: From contract perspective, however, you may be violating contracts of both companies, if the contracts require that you do not work for another employer without their agreement.
This should not be a problem with the new employer but I would still ask them to acknowledge it in writing, otherwise you could be in breach of the new contract.
Additional complexity happens in case your old and new employers are competitors. In such case, it is for sure a legal issue.
Finally, regarding the shares, it depends on the plan rules. Many companies have a rule that states that if you start working for a competitor (which would usually be listed in the plan rules or so), you immediately forfeit any unvested shares. Plan rules also usually do not allow for an earlier vesting unless there is a special reason (i.e., retirement, disability or death).
I would doubt your current employer would override that as this would be precedent setting (unless they already had precedents )

If you want to do it correctly, you'd need (written) agreement from both employers. From the first one to start working for the new company during your notice period/vacation. From the new one acknowledging that you are still employed with the old company until the end of August. Not sure both would agree
"get away" is what I don't like, because if it is illegal, I'm sure it will catch up with me.
Both contracts disallow me to have another employer without consent. Good point about asking new employer in writing.
Employers are not competitors.
Share plan is simple, I just need to be employed with the company on the vesting date.
Yes, it is clear that I need written agreement from both. I think I can pull this off. It is also clear to me that current employer will not pay any dime more than they need. If I want to get compensated, I should work this out with the new employer.