Retention Bonus Upon Dismissal

sharpey79gfc

Hi,

I received a job offer in December 2011 and subsequently handed in my notice. I was then offered a retention bonus to stay by my current employer payable in 3 equal installments (Feb, May & Aug), which I accepted and retracted my notice.

It would now appear that they have issues with my performance (just 1 month later?!?!?!) and I have been called to a meeting.

If dismissed where do I stand with getting them to pay this retention bonus.

Note : i have been employed by them for only 9 months.

Jarndyce

Assuming the agreement you reached on the terms of payment of the retention bonus was silent on this point, it can only apply as long as you are employed.

Are you sure this was not covered in the agreement? What would happen if you left before then?

sharpey79gfc

Thanks for the reply.

It stated that payment would be made as long as I had not handed in my notice.

Jarndyce

sharpey79gfc wrote: »

Thanks for the reply.

It stated that payment would be made as long as I had not handed in my notice.

Interesting choice of words. I think I would need to see the whole agreement and surrounding documentation to be able to advise definitively - it may be that they have shot themselves in the foot.

Depending on the amounts involved you may wish to have a solciitor look over it.

sharpey79gfc

Hi

Have just checked the document and it states it is payable as long as I am still employed and not serving any notice. Am assuming this includes them serving me notice too then :-(

Am I also right in assuming that the notice period of 3 months counts towards your total length of service and therefore if it takes you over 12 months and you have more rights to take any further action?

sharpey79gfc

It also states first installments is payable in Feb 2012. It doesn't however mention a date in Feb nor that it will be processed through the usual monthly payroll at end of month.

Jarndyce

sharpey79gfc wrote: »

Hi

Have just checked the document and it states it is payable as long as I am still employed and not serving any notice. Am assuming this includes them serving me notice too then :-(

Yes of course it does - as you were.

Am I also right in assuming that the notice period of 3 months counts towards your total length of service and therefore if it takes you over 12 months and you have more rights to take any further action?

Yes - assuming you are required to work the notice. If they pay you off in lieu of notice you may not reach the 12 months.

I would suggest it would be a reasonable assumption that the February instalment be paid with that month's payroll.

getmore4less

Were you checking they were not looking for a replacement behind your back?

Looks like you may have got stitched up,

Looks like they needed you till they found a replacement and may now have found someone.

Hopefully they don't look for a way to not pay the 3 month notice.

If they are going down the performance route, 12 months won't help you.

Should have refused the retention terms and got it fully payable on termination by employer for any reason.

sharpey79gfc

If they go down the performance route then don't they have to prove they have highlighted the issues and given me time to rectify them? (as generally speaking they dont do this at all - you get called in then get your coat!) Would 12 months service not come into play then?

Also, as you mention it. We have just offered a role to someone at a similar level to myself (but a bit cheaper) who starts in a months time.

getmore4less

You got stitched, if they had a habit of letting people go you should have seen this coming.

You need to look at your company policies if you want to try to go against the current flow.


Find another job this one will not last long.

eat humble pie and try the job you got before.