Contractual bonus and share schemes are a popular way for employers to reward and motivate staff, but employers usually reserve an 'absolute discretion' as to the amounts to be granted. That doesn't stop the courts clamping down on unjust exercise of discretionary powers. Nomura International was ordered to pay a trader pounds 1.35 million damages in light of its 'irrational and perverse' decision to deny him a bonus. Similarly, the directors of BPB Industries were held to have had no rational basis for cancelling the share options of Giovanni Mallone when they dismissed him as MD of their Italian subsidiary. Unlawful discrimination is another potential pitfall. Julie Bowers, a shares analyst with Schroder Securities, was awarded a pounds 25,000 bonus while similar-performing male colleagues got six-figure sums. She won pounds 1.4 million in compensation. Extreme caution over exercising discretions is a must.
A new dark age, cruel and dangerous social media and Sean Spicer feature in this month's reading list.
Pragmatism and continual innovation has enabled the Lancashire manufacturer to take its work wear global.
Boards are supposed to prevent anything that could cause harm to a company, but some still fail.
Five ways you can help your female high-fliers 'come to the front'.
INNOVATION BITES: Lush is stripping back on packaging.
To truly understand a business, think how you would swindle it.