Bonuses and the discretion to pay them

• Author:
• Mark Kaye

The recent decision of the Court of Appeal in the case of Commerzbank AG v. Keen should provide banks and other city employers with some welcome relief at a time when bonuses are the buzzword.

The case involved a claim by former employee in relation to (i) an allegation that his bonuses in 2003 and 2004 were underpaid by the bank and (ii) the non-payment by the bank of any bonus payment in respect of the 2005 bonus year.

The bank’s bonus scheme provided that the decision as to wheth... (502 more words)

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