Preparing for imminent Redundancy

[Easel]

Hi,


I am looking for some advice on how to prepare for an imminent redundancy.


I have worked as an employee of a very successful professional services firm for the last 10 years earning a 6 figure salary. It is a family company and I am related to the majority shareholder. The firm is to be wound up/sold in 1-2 years and I will be made redundant. As an incentive to stay on until the company is no more I have been offered a bonus of €50,000 part payable upon reaching specific mile stones.


Would it make sense/be legal to forego this bonus and instead ask them to include it as part of an ex gratia payment upon redundancy? There is no company pension.


I have absolutely no concerns that this agreement will not be honoured at the point when the company is liquidated/sold.


Any advice/comments would be greatly appreciated.


Easel

 

[misemoi]

I received a similar retention bonus before when my position was made redundant. Revenue agreed that it formed part of my severance package as it was not a regular payment like say an annual bonus would be. So it was included in my ex gratia for tax calculation.