Hi All,
Hoping someone working in the legal side of things can give me their interpretation of the following document signed by employer & employee:
Salary = €x
Bonus = Circa €x + €x standard and production based and at the discretion of the managing director
Expenses = paid as per existing system
This agreement is based on your commitment to Company X over the next 5 years and your input to help grow and expand our existing company.
This document was signed in March 07. There was no bonus paid at all for 2008 (are they covered by "discretion of the managing director"?).
The agreement based on commitment over the next 5 years - does this tie the company in as well? Or would you interpret it to tie in only the employee?
Finally, the person involved has been asked to take a pay cut to 2005 salary. He is willing to take a pay cut but does not want to take a 30% cut, as he is already losing out on a substantial bonus. He wants to know if he agrees to take a pay cut, does that make the above document null & void?
TIA
Nutso
Hoping someone working in the legal side of things can give me their interpretation of the following document signed by employer & employee:
Salary = €x
Bonus = Circa €x + €x standard and production based and at the discretion of the managing director
Expenses = paid as per existing system
This agreement is based on your commitment to Company X over the next 5 years and your input to help grow and expand our existing company.
This document was signed in March 07. There was no bonus paid at all for 2008 (are they covered by "discretion of the managing director"?).
The agreement based on commitment over the next 5 years - does this tie the company in as well? Or would you interpret it to tie in only the employee?
Finally, the person involved has been asked to take a pay cut to 2005 salary. He is willing to take a pay cut but does not want to take a 30% cut, as he is already losing out on a substantial bonus. He wants to know if he agrees to take a pay cut, does that make the above document null & void?
TIA
Nutso