Rim backdating options
Additionally, where the backdating of an agreement affects the taxes that are imposed (or not imposed) on one of the contracting parties, courts will generally only respect the backdating provisions as between the contracting parties.A court will generally not enforce the backdating provisions as between a taxpayer and the applicable tax enforcement agency (such as the Canada Revenue Agency).Black Berry was founded in 1984 as Research In Motion by Mike Lazaridis and Douglas Fregin.Fregin retired from the company in 2007. In 1992, Lazaridis hired Jim Balsillie, and Lazaridis and Balsillie served as co-CEOs until January 22, 2012. In November 2013, John S. His initial strategy was to subcontract manufacturing to Foxconn, and to focus on software technology. Currently, his strategy includes forming licensing partnerships with device manufacturers such as TCL Communication, and unifying Black Berry’s software portfolio. In 1988, RIM became the first wireless data technology developer in North America and the first company outside Scandinavia to develop connectivity products for Mobitex wireless packet-switched data communications networks.The company attempted to impede the unionization by hiring additional employees that were against the union.However, to the company's disappointment, these employees were not hired until after the company's current employees filed their application to unionize, making the new employees unable to participate.Everything changed with the 3Gs — the full realization of Steve Jobs’s vision of a pocket sized combination of a phone and a computer.“The ‘S’ stands for speed,” Apple senior vice-president Philip Schiller said during the unveiling at the Moscone Center in San Francisco.
Investors were content because RIM’s stock price had appreciated a whopping 293% since 2004. Balsillie could afford to dismiss the grumbling about divided loyalties.
The Ontario Securities Commission has slapped million in penalties and restitution against four company officials from Research in Motion Ltd., Canada's high-tech superstar.
The amount ordered in the case, in which the commission says RIM employees raked in million over 10 years from improperly backdated stock options, is the largest ever levied by the province's stock market watchdog.
It is common for two parties, particularly in the commercial context, to enter into a contract at one time, but agree to have the contract come into effect at an earlier time. Courts respect the parties' decision to backdate since giving effect to backdating provisions respects the parties' intentions as well as their freedom of contract., 1968 (the date the contract was delivered to the insured).
The Court considered the construction of the whole policy and held that the exclusion clause took effect on the backdated date chosen by the parties.