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ARTICLE · 16 JANUARY 2017

Plain Language In Bonus Plan Prevails: No Employment, No Vesting, No Bonus

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In positive news for employers, in Styles v Alberta Investment Management Corporation, 2017 ABCA 1, the ABCA affirmed that an employee who does not meet a clear and well drafted condition of eligibility...

CanadaEmployment and HR
Carl Cunningham
Carl Cunningham
Sara Parchello
Sara Parchello
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In positive news for employers, in Styles v Alberta Investment Management Corporation, 2017 ABCA 1 [Styles], the Alberta Court of Appeal (ABCA) affirmed that an employee who does not meet a clear and well drafted condition of eligibility will not be entitled to a bonus payment during the period of notice of termination. The court rejected the trial decision findings that the employer had a duty to reasonably exercise its discretionary power to permit vesting under the plan documents and that the employee was entitled to a payment in lieu of bonus of $444,205.

Background

David Styles began his employment with Alberta Investment Management Corporation (AIMCo) in June 2010. In addition to his base salary and participation in AIMCo's annual bonus plan, Mr. Styles also participated in AIMCo's Long Term Incentive Plan (LTIP), which gave him yearly performance-based "grants" that would vest at the end of a four-year performance period. The most recent version of the LTIP

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