ARTICLE · 01 DECEMBER 2014

Ontario Court Comments On Executive Compensation

Miller Thomson

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Miller Thomson

Miller Thomson LLP ("Miller Thomson") is a national business law firm with approximately 500...

Earlier this year, the Ontario Court of Appeal decided Unique Broadband Systems, Inc. (Re), in which it overturned the trial judge's decision to award the former CEO of Unique Broadband Systems ("Unique") severance and upheld the lower court’s decision not to award the former CEO certain additional compensation and indemnify him for his legal fees.

CanadaCorporate/Commercial Law

Robert Hayhoe

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Earlier this year, the Ontario Court of Appeal decided Unique Broadband Systems, Inc. (Re), in which it overturned the trial judge's decision to award the former CEO of Unique Broadband Systems ("Unique") severance and upheld the lower court's decision not to award the former CEO certain additional compensation and indemnify him for his legal fees. The Court of Appeal decision is relevant to charitable and non-profit corporations because of what it says about compensation decisions and about director indemnification.

The CEO of Unique had a contract that entitled him to indemnification for legal fees incurred in defending himself against Unique-related claims in certain circumstances. He was also entitled to compensation related to the price of Unique's shares.

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Ontario Court Comments On Executive Compensation

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