From: "Tim Walter" <[log in to unmask]>
Sent: Thursday, January 15, 2004 11:23 PM
> Reading the SFE and notice para 13.21(d)
>
> Basically our practice divides all profits up proportionately to time
> working.
>
> The SFE implies that the whole of Seniority must be paid to that GP, and
> PCT will withhold payment if it is not
>
> How does that equate with our policy of equality? The reason I noticed,
> is that the wording is virtually identical to the Golden Hello section
> which understandably dictates the income goes to the relevant GP..
Interesting that you feel it's understandable for the Golden Hello to be
dealt with this way but not the seniority payment.
Anyhow, you will have to pay it to the relevant doc but nothing to stop you
all agreeing a reduction in their partnership share by the same sum as far
as I can see. The SFE is iniquitous anyway since it will remove seniority
from the lowest earners and part timers. Better for them to go freelance I
think.
Fay
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