The importance of detailed drafting of employment documents – particularly those calling for commissions, bonuses or other types of incentive compensation – was highlighted recently by a plaintiff’s claim that, as a conditional hire who never worked a day at now-defunct Lehman Brothers, the Bank’s rescinding of her employment offer triggered its obligation to pay
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Illinois Court Rejects Attorney’s Claim For Alleged Unpaid Bonus
By Noel P. Tripp on
Similar to the wage-and-hour enforcement scheme of many other states including New York, in Illinois, the payment of incentive compensation is largely a matter of contract. Entitlement to incentive compensation, in particular bonuses paid pursuant to a company policy taking into account many criteria, under the governing statute attaches when the terms of the…
SDNY Judge Holds That Express Language In Offer Letter Precludes Bonus Claims
By Noel P. Tripp on
Posted in Bonuses
While in New York all employees are at-will absent contractual language to the contrary, an employer may (intentionally or unintentionally) create a “contract” with an employee governing certain terms of employment (such as bonus compensation) without destroying the at-will nature of employment. Properly drafted and agreed upon, such a contract can preclude employees from later…