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Retention Bonus

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  • #1

    Retention Bonus

    Hi, I got a 2 year retention bonus offered from my company where they credited the bonus to my account without any sign off/ acknowledge agreement from me. If I resign within 2 year from the paid out period, I have to pay back 100% to my company.


    If i did not sign off any agreement, does the retention bonus legal binding ?


    May I know, how can i negotiate with my company on the retention bonus if I would like to pay back on pro-rata basis ?


    Please advise.


    Thank you.
    Tags: None
  • #2
    Re: Retention Bonus

    So, have you spent the bonus?

    If not and you do not wish the 2 year deal then give it back to them. Documenting all the way.

    Perhaps negotiate a deal to suit you better.

    Comment

    • #3
      Re: Retention Bonus

      Accepting the money will be seen as acceptance. Though did you receive any letter explaining what the retention bonus was for, or is their anything in your contract about the retention bonus?
      Please note that this advice is given informally, without liability and without prejudice. Always seek the advice of an insured qualified professional. All my legal and nonlegal knowledge comes from either here (LB),my own personal research and experience and/or as the result of necessity as an Employer and Businessman.

      By using my advice in any form, you agreed to waive all rights to hold myself or any persons representing myself of any liability.

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      The Governess; 6th March 2012 GRRRRRR

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