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Notice, pay, share issues and termination benefits

Contract termination guidance for senior executives


You have given notice to leave the company. Your bonus, which is due, has not been paid. Your manager says that payment is discretionary but your colleagues have all been paid. You may be considering the following:

Can my boss withhold my bonus if I leave the company?

What happens to my share options if I leave?

Bonus arrangements are often described as discretionary but once targets are agreed and an employee achieves those targets then the bonus will often become contractual and enforceable. The fact that colleagues have received bonus payments strengthens your position because when an employer exercises discretion in such circumstances, it must do so fairly between employees.

However, there may be bonus payment conditions, such as a requirement that you are still in employment on the date the bonus becomes payable or that you not serving notice.

Share option rights are usually set out in specific agreements. Rights will vary but you may lose options once notice has been given particularly where options have not vested. You should take advice before you give notice.

Redundancy, unfair dismissal, severance agreements

Notice, pay, share issues and termination benefits

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