Bonus Repayment Clause Samples
The Bonus Repayment clause requires an employee to return any bonuses received under certain conditions, typically if they leave the company within a specified period after receiving the bonus. For example, if an employee resigns or is terminated for cause within 12 months of receiving a signing or performance bonus, they may be obligated to repay all or part of that bonus. This clause serves to protect the employer’s investment in incentivizing employees, ensuring that bonuses fulfill their intended purpose of encouraging retention and performance rather than serving as short-term windfalls.
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Bonus Repayment. You agree (provided that the resolutions referred to in Section 4.2 are approved by the shareholders) to pay to RGTL on or before the date which is 14 days after the conversion of all of the multiple voting shares of RGTL into subordinate voting shares of RGTL the amount of $1,129,750 (representing the balance of your bonus repayment obligation previously announced by RGTL).
Bonus Repayment. Should the Company terminate Executive’s employment for Cause, or should Executive leave the Company for any reason, in either case within two years of the Effective Date, Executive will promptly repay to the Company any Bonuses received by Executive, and the Signing Bonus. Should the Company terminate Executive’s employment without Cause, or if Executive resigns for Good Reason, or if Executive’s employment terminates as a result of Executive’s death or Disability, and provided Executive signs and allow to become effective the Release on the terms set forth in Section 8(b) below, no repayment of the Bonuses or Signing Bonus shall be required.
Bonus Repayment. In addition to amounts payable pursuant to Section 1.3 hereof, on or before March 15, 2000, the Company shall, and the Buyer shall cause the Company to, pay to Seller $1,809,450.24 to reimburse the Seller for amounts advanced by Seller (plus applicable social security, unemployment and Medicare payments) to the employees of the Company listed in Section 4.13 of the Disclosure Schedule during December 1999 and February 2000 to fund the payment of performance bonuses with respect to 1999.
Bonus Repayment. In the event of Holder’s voluntary resignation other than for Good Reason prior to the Closing or the Merger Termination Date, as applicable, Holder agrees to repay to the Company within thirty (30) days following such termination of employment any annual cash bonus amount paid to Holder by the Company with respect to the Company’s 2015 fiscal year.
Bonus Repayment. If Executive’s employment is terminated for any reason other than as set forth in Section 6A below, he will repay to the Company a pro-rated amount of the 2006 bonus set forth on Exhibit A ($400,000) as follows: If Executive’s employment is terminated before September 16, 2007, he will repay $400,000; if Executive’s employment is terminated on or after September 16, 2007, but before September 16, 2008, he will repay $266,666; and if Executive’s employment is terminated on or after September 16, 2008 but before September 16, 2009, he will repay $133,333.
Bonus Repayment. Brincat agrees to pay Mercury Finance the amount of $1,000,000, in order to resolve Mercury Finance's claim that Brincat received excess bonus compensation during the period of his employment.
Bonus Repayment. In the event that you resign from employment with the Company for any reason within eighteen (18) months after your Start Date, you agree that you will repay to the Company the entire Sign-On Bonus (“Repayment Amount”).