Did you know that you are still entitled to your earned bonus after termination?
Say you’ve worked for 11 months of the fiscal year and the bonus payouts are about to be announced. The day before the award letters go out you got called to a meeting by HR and a few minutes later were terminated from employment.
What happens to your bonus?
Review your termination offer closely. If you don’t see that component of your annual compensation for the 11 months you’ve already worked in the employer’s termination offer then calling counsel should be your first step.
(It should be mentioned: Never sign back an employment termination offer without review by counsel.)
Bonuses that are earned but unpaid are routinely overlooked.
“Active employment” exclusions and the like are commonly struck down by Courts in Ontario which are alive to the potential for mischief in industries where the bonus compensation can be equal to or greater than the annual salary (looking at you: investment banking and tech sales executives).
It’s strange how something so obvious is so often missed. Don’t go it alone when you’re in the aftermath of losing your job. Get excellent advice.