The Limits Of Matthews: Ontario Courts Provide Guidance On A Terminated Employee's Equity Entitlements - Employment and HR

Matthews").
Two recent Ontario cases provide clarity for employers
as to (a) what equity entitlements are considered income, benefits
or bonuses for the purpose of this test, and (b) what language is
sufficiently clear and unambiguous to take away or limit an
employee's entitlement to income, benefits or bonuses during
the reasonable notice period.
Shareholdings Are Not Necessarily Employment Entitlements
The decision In
Mikelsteins v. Morrison Hershfield
Limited, 2021 ONCA 155
("
Mikelsteins") represents the first
reconsideration on the issue of termination entitlements in the
incentive compensation context by Ontario's Court of Appeal
("ONCA") in accordance with
Matthews.
Background
Mr. Mikelsteins (the "Employee") was one of a select

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