In a recent decision of the Ontario Superior Court of Justice (May 2021), Humphrey v. Mene, a 32 year old employee with over 2 ½ years of service earning $90,000.00 per annum plus stock options, recently promoted to Chief Operating Officer…
Senior Executives, Directors and Senior Managers have compensation packages that often include bonuses, stock options, and/or LTIP payments. The Supreme Court of Canada in Matthews v. Ocean Nutrition Canada Ltd. (October 9, 2020) (which was a case out of Nova Scotia) confirmed…
An employee may be a member of a Defined Benefit Pension Plan (“DB Pension Plan”) as part of his/her remuneration package. The DB Pension Plan is a significant term of the employee’s remuneration package. If an employee is terminated and…
The bonus is often an integral part of an employee’s remuneration package. The bonus plan and/or the employment agreement may also stipulate that to be eligible for the bonus, the employee must be “actively employed” at the time the bonus…
Be Alert to the Termination Provisions in the Employment Agreement A company may ask a prospective employee (“employee”) to sign an employment agreement containing a termination provision prior to commencing employment. The offer of employment will be conditional upon the…
If an employee is terminated and their remuneration package included a bonus component, they should vigorously pursue their claim for damages for the loss of the bonus(es). If payment for the bonus(es) is not included in the Company's proposed severance…
It is prudent for an employee to obtain individual critical illness insurance and/or individual disability insurance. The reason for this is that if the employee's employment is terminated, their insurance coverage for disability benefits (assuming they have coverage through their…
