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Year End Bonus Still May Be Available After Job Termination
Four arbitration panels have awarded discharged Wall Street employees their bonuses, in whole or in part, despite their being terminated.
The rationale is that these bonuses were not considered discretionary but, instead, an integral, non-discretionary element of compensation.
The awards suggest that firms cannot terminate to escape paying the bonus, even when the termination is for cause, unless the employer makes it crystal clear to employees that there is a possibility of not receiving any bonuses.
Source: Investment News, July 10, 2000
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