Bonuses
If you need guidance on any bonus dispute, we can advise you.
Bonuses fall into different categories and your rights will depend to a large extent on the type of bonus applicable to you.
There are discretionary bonuses which are non-contractual and completely at the discretion of your employer. You may not have any redress unless there has been discrimination. If you feel that you have not been awarded a bonus through discriminatory behaviour, talk to us about the action you can take.
Some bonuses are partially discretionary, and it might be stated in your employment contract that you will be eligible to be considered for a bonus. For these bonuses, when determining your bonus your employer must not act irrationally, perversely or in an arbitrary way.
Some bonuses are more formulaic in nature, often based on sales or performance targets. The bonus terms tend to be more precise, giving you an entitlement to a specific bonus, rather than conferring a discretion. We can advise you on negotiating these bonuses and what action to take if your employer is breaching their obligations.
Sometimes bonuses are deferred in the form of cash, stock or stock options. We’ll help you understand your rights and how to secure your bonus.
In situations of redundancy, depending on the bonus rules, you could be treated as a good leaver and any deferred awards might continue to vest on the usual vesting dates or be accelerated. We can explain the relevant bonus provisions in your employment contract as well as review any separate scheme rules.
If you have a query about your bonus and securing your rights, talk to one of our solicitors today..