Ridgway v JP Morgan Chase Bank National Association - forfeiting rights to City of London bank bonus scheme - High Court (QBD) 8.6.07
Daniel Ridgway got a first in Maths at Oxford University and immediately (in 1996) joined JP Morgan as a management trainee. He worked on the interest rate options trading desk, did well, was promoted and was regularly awarded significant annual bonuses in the form of cash, stock options and restricted stock units (RSUs). In 2003 he took a year's sabbatical leave on agreed terms. He was awarded a nil bonus for that year and on his return was offered a different job. He resigned. Under the terms of the bonus scheme this meant he forfeited his stock options and RSUs.