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by Mike Caswell

Canaccord Genuity Corp. denies that it owes any severance pay to Juan Plessis, the former director of pipeline and power research who quit after receiving a lower-than-expected bonus. Mr. Plessis's bonus was in line with his poor performance and the smaller bonus pool available for 2014, Canaccord says. According to the firm, Mr. Plessis had been on notice for several months that his work would have to improve.

Canaccord is responding to a wrongful dismissal lawsuit that Mr. Plessis filed against the firm in the Supreme Court of British Columbia on June 23, 2014. He complained that Canaccord, his employer of 10 years, had breached his employment contract by paying him a bonus in an amount a more junior employee could expect. The bonus, which was on top of his $150,000-per-year salary, only amounted to $75,000, he said. In prior years he had received $150,000 or $180,000.

As he saw it, Canaccord cut his bonus as part of an effort to have him quit his job. He said Canaccord delivered the poor bonus just seven months after the firm had promoted him to director for his stellar work. He sought a declaration that Canaccord had constructively dismissed him, and sought damages for breach of his employment contract.

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