Bonus And Commission Claims
Some bonus and commission schemes are written into your employment contract or in a separate employment handbook or memorandum. However, we have advised a number of clients where the bonus or commission scheme has never been written down, and the terms have been a matter or oral agreement and custom and practice. More often, such schemes will be partly written, partly oral and perhaps partly down to custom and practice. For example, one of our clients had accepted an offer of a better job from a new employer but his old employer then offered him 0.5% of the shares of the company, provided he stayed. Our client did stay and, after six months, got provided the offer in writing. Two years later, the shares had still not been transferred to our client and the company wanted to make him redundant. By this time the original company had been made a subsidiary and all of the value in the shares was in a separate company in the group. We got him a six figure pay out to reflect the true value of his shareholding.