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Rutherford v Seymour Pierce Ltd - discretionary bonuses and former employees

No implied term that an ex-employee is not entitled to a discretionary bonus because he is no longer an employee when the bonus related to a time when he was an employee.

Seymour Pierce is a London-based investment bank and stockbroker providing advice to companies and institutions and raising finance for them.  Malcolm Rutherford, their former head of institutional sales, has won the right to a £70,000 unpaid bonus. 

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