When does a company legally owe you a bonus that was promised in writing?
December 16, 2007 5:38 PM Subscribe
Does anyone here have experience with the legalities of performance bonuses as they apply to someone living in Canada? This is complicated.
posted by anonymous to Law & Government (5 answers total)
Here's the situation in (necessarily anonymous) detail. I have received my performance review for the past fiscal year at my company. The review includes a performance bonus target, which is one factor in determining the amount I'll receive as a bonus for FY 2007, with other factors being company performance, etc. The usual considerations. FY 2007 is finished.
I am seriously considering quitting my job. The point of the question is, at which point is it financially "safe" to do so, which is to say at which point does the company owe me the bonus it has (sort of) promised me in writing?
Even though FY 2007 is now past I won't quit until January (because logistically that's how it would work out anyway with a standard two-week notice), but is it legal for a company to not pay out a bonus for past performance to an employee who has quit? Or is the bonus dependent on my employment with the company at the time at which said bonus is paid out?
(this is posted anonymously for obvious reasons)