Running the bonus scheme
Bonus schemes for employees and directors form a large element of pay. The design of bonus schemes and targets together with payment terms make the bonus scheme effective. The use of claw back and retention provisions calculated by reference to under performance are increasingly common and an area of our expertise.
Expertise in effective bonus schemes:
- Advice on performance targets and measures of performance
- Contractual rights and position on termination of employment
- Permitted uses of discretion
- Avoiding claims for breach of contract on failure to pay a bonus or a reduced bonus
- Implementing effective claw back and retention clauses
- Handling director disputes and bonus entitlements
- Payment of a bonus as part of redundancy pay
- Implementing variations to bonus schemes
Paying a bonus, claw back and retentions
Specialist commercial employment solicitors designing and implementing bonus arrangements. Please call today to discuss your requirements 0207 438 1060
back to top