Contracts of employment: No damages for loss of share option on wrongful dismissal

The High Court's decision in Micklefield v SAC Technology Ltd illustrates how employees' rights under employee share option schemes can be affected by the termination of their employment. In this case, the scheme provided that employees who ceased to be employed "for any reason" no longer had the right to exercise any option they held, and were not entitled to compensation for the loss of that right.