Background: Matthew Preston, a former employee of Cervus, sought damages for vested stock units valued at $75,949.81. He argued the Settlement Documents he signed after his termination did not cover these units.
Motion Judge’s Decision: Found that the Settlement Documents did not release Mr. Preston’s claim for the vested stock units and awarded him the value of $75,949.81.
Appeal Court Decision:
The Court of Appeal reversed the motion judge’s decision, ruling that the Settlement Documents clearly released all claims, including for the vested stock units.
Judgment was granted in favor of Cervus, effectively denying Preston’s claim for the $75,949.81.
Cervus was awarded appeal costs of $5,000.
ONCA 861
Issue: Costs of the original proceeding.
Decision: The Court of Appeal ordered Preston to pay Cervus $30,000 in costs for the initial motion, in addition to the $5,000 costs awarded for the appeal.
Outcome
Total Costs Awarded to Cervus: $35,000 ($5,000 for appeal + $30,000 for the original motion).
Damages for Vested Stock Units: Denied. Mr. Preston’s claim for $75,949.81 was dismissed based on the broad release language in the Settlement Documents.
