Sir Fred Goodwin and an Employer’s Right to Claw Back BonusPosted in : Supplementary Articles NI on 27 March 2009
Tughans Solicitors outline the steps required to vary employees' terms and conditions of employment.
The refusal of the former Royal Bank of Scotland Chief Executive, Sir Fred Goodwin, to give up his £693,000 annual pension has sparked controversy in recent weeks with former ally Gordon Brown calling on him to waive at least some of his entitlement. Whilst Mr Goodwin insists his pension pot was fairly agreed, there are claims that the RBS Board was not aware that the award was discretionary and that the majority shareholder in the bank, the Government, had not been fully appraised.
Already a subscriber?
Click here to login and access the full article.Log in now to read the full article
Don't miss out, start your free trial today!
Are you fully aware of the benefits of Legal-Island's Employment Law Update Service? We help hundreds of people like you understand how the latest changes in employment law impact on your business.
Help understand the ramifications of each important case from NI, GB and Europe
24/7 access to all the content in the Legal Island Vault for research case law and HR issues
Ensure your organisation’s policies and procedures are fully compliant with NI law
Receive free preliminary advice on workplace issues from the employment team at Worthingtons Solicitors
This article is correct at 27/03/2009
The information in this article is provided as part of Legal-Island's Employment Law Hub. We regret we are not able to respond to requests for specific legal or HR queries and recommend that professional advice is obtained before relying on information supplied anywhere within this article.