4th quarter bonus withheld- goals met

[whyalwaysme]

What is the name of your state? Tennessee

In fact, the goals were based on budget and we blew them out. I received my first three quarter bonuses capped at 100%. My 4th quarter bonus was to be paid in February but our board decided to not pay the 4th quarter bonus to all director level and above because we did not meet guidance given to Wall Street. However, my uncapped fourth quarter bonus would have been around a 200% payout based on our performance against budget.

 

[cbg]

Congratulations. Do you have a question?

 

[whyalwaysme]

the question is...

do I have any recourse to recover my 4th quarter bonus?

 

[cbg]

That depends.

If the company has a written bonus policy, you will need to show the policy to a local attorney to see whether or not it is considered enforceable. This is an EXTREMELY state- and situation-specific question.

If there is no written bonus policy and everything has been handled verbally, you can ask a local attorney but your chances of recovering that bonus are pretty much nil.

 

[whyalwaysme]

Thanks for the response. I'll check with an attorney- after I quit my job!