New Jersey’s Supreme Court on Wednesday gave its imprimatur to employee stock-purchase compensation plans that carry forfeiture provisions if participants quit before fully vesting.
The justices, in Rosen et al. v. Smith Barney, A-49-07, affirmed an appellate court’s sustaining of such a plan against charges that it violated the state’s Wage and Hour Law, N.J.S.A. 34:11-4.1 et seq.
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