27 Feb 2018
EURO SEARCH (HONG KONG) LTD v. SNOW LAKE CAPITAL (HK) LTD
- Citation
- [2018] HKCFI 402
- Court
- Court of First Instance
- Case number
- HCA989/2015
The court found a binding agreement was concluded by conduct in Feb 2014 and incorporated the core terms (derived from the 2nd agreement). Clause 3.1 was construed as 25% of two components: (a) the annual basic salary accepted in writing on joining and (b) sign-on/guarantee bonuses that are paid for joining. The US$700,000 first year guarantee was conditional, deferred and not payable on joining and therefore did not fall within Clause 3.1. The recruitment fee was 25% of the annual base US$300,000 (i.e. US$75,000), which had already been paid with interest, so the plaintiff’s claim was dismis…