Iliescu v. Voicegenie Technologies, Inc.
The employment letter and stock option plan unambiguously provided that options would be granted only after the probation period and would start vesting one year after grant; the appellant's employment ended before those conditions were met, so he was not entitled to the options; the Court of Appeal will not disturb...
Source-derived case information.
- Citation
- 2010 ONCA 104
- Parties
- Appellant: Crinu Iliescu; Respondent: Voicegenie Technologies, Inc. a.k.a. Genesys VG Inc.; Respondent: Stuart Berkowitz
- Court
- Court of Appeal for Ontario
- Jurisdiction
- Canada
- Judgment Date
- 8 February 2010
- Procedural Posture
- Civil / Appeal
- Outcome
- Appeal dismissed.
- Legal Topics
- Stock Options, Vesting, Probation, Termination, Costs
- Source Language
- en
Source-derived case record
Summary, issues, holding and outcome
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Parties
Crinu Iliescu
Appellant
Voicegenie Technologies, Inc. a.k.a. Genesys VG Inc.
Respondent
Stuart Berkowitz
Respondent
Procedural Posture
Civil / Appeal
Legal Issues
- 1 Entitlement to stock options under the letter of employment and the stock option plan
- 2 Interpretation of vesting and grant conditions tied to probation
- 3 Whether appellate court should interfere with trial judge's findings
Ratio Decidendi
The employment letter and stock option plan unambiguously provided that options would be granted only after the probation period and would start vesting one year after grant; the appellant's employment ended before those conditions were met, so he was not entitled to the options; the Court of Appeal will not disturb the trial judge's conclusions.
Court Disposition
Appeal dismissed.
Orders
- Appeal dismissed
- Costs to the respondent fixed at $9,500 inclusive of disbursements and GST
Full Case Text
Judgment text and source record
1 paragraphs
Iliescu v. Voicegenie Technologies, Inc. Collection Decisions of the Court of Appeal Date 2010-02-08 Neutral citation 2010 ONCA 104 Docket numbers C49983 Judges Goudge, Stephen Thomas; Feldman, Kathryn N.; Armstrong, Robert Patrick Subject Civil Decision Content CITATION: Iliescu v. Voicegenie Technologies, Inc., 2010 ONCA 104 DATE: 20100205 DOCKET: C49983 COURT OF APPEAL FOR ONTARIO Goudge, Feldman and Armstrong JJ.A. BETWEEN: Crinu Iliescu Plaintiff (Appellant) and Voicegenie Technologies, Inc. a.k.a. Genesys VG Inc. and Stuart Berkowitz Defendants (Respondents) Igor Ellyn, Q.C. and Michael Blinick, for the appellant Jefferey B. Simpson, for the respondents Heard: February 3, 2010 On appeal from the judgment of Justice Randall Scott Echlin of the Superior Court of Justice dated January 6, 2009. APPEAL BOOK ENDORSEMENT [1] In our view the trial judge’s reasons fully address and properly dispose of the issues raised before him. There is no basis for this court to interfere. [2] In oral argument in this court the appellant raised for the first time an issue of whether he was entitled to the stock options promised to him in the letter of employment. In our view the clear meaning of that letter and the stock option plan provides a complete answer to his claim. The options were not granted until his probation period ended and did not start to vest until a year after that. His employment terminated well before that date. [3] The appeal is dismissed. Costs to the respondent fixed at $9,500 inclusive of disbursements and GST.