Alberta appeal court enforces clear contractual bonus language
Thursday, March 16, 2017 @ 8:45 AM | By George Vassos and Sasha Segal
In Styles v. Alberta Investment Management Corp. 2017 ABCA 1, the Alberta Court of Appeal enforced clear contractual language limiting bonus entitlements to employees actively employed on the vesting date and provided much-needed clarity for Alberta employers.
The employee was employed from June 15, 2010, until June 11, 2013. The terms of employment were governed by a written employment contract and included participation in the Long Term Incentive Plan (LTIP), which vested after a four-year performance period (often referred to as “cliff vesting”). The LTIP conditions were...
The employee was employed from June 15, 2010, until June 11, 2013. The terms of employment were governed by a written employment contract and included participation in the Long Term Incentive Plan (LTIP), which vested after a four-year performance period (often referred to as “cliff vesting”). The LTIP conditions were...
