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Khatri v Cooperatieve Centrale Raiffeisen-Boerenleenbank BA - financial sector: employee's bonus was not discretionary

Where an employer purports unilaterally to change terms of an employee's contract the fact that the employee continues to work does not automatically mean that the employee has accepted that variation in the contract.  In this case a change making a formula based bonus into a discretionary bonus was invalid.

Mr Khatri was employed by Cooperatieve Centrale Raiffeisen-Boerenleenbank BA ("the Bank") as a derivatives trader from June 1998 until he was dismissed by reason of redundancy.  He was given notice in October 2008 and dismissed in January 2009. 

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