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Utah Compensation Regs

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  • Utah Compensation Regs

    I started at my new company in 2007, as an important part of my compensation I was to be given a 20% bonus of my base salary annually, based on my performance and the company performance.

    In fiscal year 2008 I received 100% of my 20% bonus based on personal performance and the performance of the company.

    In 2009 I received only a 2.5% bonus, although I had met and exceeded all of my targeted goals and objectives, the company also performed well and claims in it's investor marketing materials to have "generated record revenues in fiscal yr 2009, an increase of over 47% from 2008". Exec officers (per EDGAR) received in excess of their targeted bonus' for fiscal yr 2009, confirming to me that the company met or exceeded it's goals for 2009. I believe the company used the downturned economy to selectively reduce costs but cutting the bonuses of myself and my workmates. The question is, is it legal for the company to withhold my bonus when both myself and the company clearly met our goals, this bonus is an intregal part of my offered compensation and I was not informed at any time prior to receiving the bonus that my "overall" compensation was being reduced.

  • #2
    This is really more an issue of contract law than it is of wage and hour law. You maybe want to take whatever documentation, agreement, contract, comp plan policy, etc. to an attorney to see if you have any recourse civilly.
    I don't respond to Private Messages unless the moderator specifically refers you to me for that purpose. Thank you.


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