QUESTION
Can a company legally withhold my yearly bonus even if I worked the entire year, but quit before the payout.
Asked on Feb 25th, 2013 on Employment Contracts - New Jersey
More details to this question:
This is what is says in the handbook... "A participant who leaves the company prior to actual payment of the incentive award shall forfeit any eligibility to an incentive award under the plan for that year." 'That Year' being the most important words. I put my resignation in 2013, not 2012.
1 ANSWER
Criminal Defense Attorney serving Toms River, NJ
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Edward J. Dimon
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an employee manual is not an 'employment contract'. do you have an 'employment contract' ? if not, you are an 'employee at will'. did you work the entire year of 2012 ? when did you announce your resignation ? what was the effective date of the resignation ? the NJ law will not support your payment if you resigned before the 'effective date'. ed dimon, esq.
Answered on Feb 27th, 2013 at 1:24 PM