Hello my name is ***** ***** I am happy to help you today. Are you still an employee of the company?
Have you raised a formal grievance about this?
and just to clarify there is nothing in writing or any verbal agreement setting out the required profit levels?
The difficulty with the claim you are proposing is that a breach of contract claim would have to show a breach of agreement. In the absence of an agreement as to profit levels it is difficult for you to prove. A court would want to know why you had not sought clarification of the profit level in writing at the time. If the company has lodged this figure at Companies house then this will act against you. I therefore think you may struggle with a breach of contract claim if I am honest.
You do, of course, have the right to raise a formal grievance that the employer has seriously misled you and it amounts to a breach of trust and confidence and you may have a claim under the National Minimum Wage act in the event that you were paid the minimum wage in respect of the hours you worked.
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It is helpful if you can use it in evidence that the shares had value at that date. It is still unclear though as 'having value' and the actual value are two different things. May I ask why you did not ask for clarification of the value and the profit level?
My original advice remains. The difficulty you have is putting value on a breach of contract claim but there is nothing to prevent you trying to make a claim if you wish. The court will have to find a breach of contract to find in your favour. In the absence of an agreed amount that will be very difficult to do.
My advise is therefore to pursue it on the basis of a breach of trust and confidence and in the future ensure that you have terms set out in writing.
It is a breach of contract. Every employment contract has an implied term of trust and confidence. Technically you could bring a claim to the tribunal on the basis that the employer has breached your contract but, a with a county court claim, your difficulty is that you cannot put a value on the loss as nothing was actually agreed. If relations have broken down it can be enough, that if it is not resolved you would have the right to resign and claim constructive dismissal, for which you can be compensated for economic loss for future earnings.
There is no easy claim here. It would be wrong for me to suggest there is.
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