Retention Bonus Agreement

Lay down a formal agreement between the company and employees on certain clauses while paying retention bonus

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It is true that employees are the assets of an organisation, especially the ones who have passion and have given consistent performance over a period of time. As a part of the retention policy, HR would incentivize these employees by paying a bonus but with certain preconditions. This template would assist HR teams to formally obtain agreement on certain preconditions with an employee on payment and receipt of retention bonus.

This letter template is available for download in Word format.

With this Retention Bonus Agreement template you can:

  • Offer a retention bonus to a deserving employee in a formal way
  • Convey the preconditions that the employee has to agree to before the bonus becomes payable
  • Use the template as a record of employee’s consent and also for further processing

In just a few minutes you will be able to create a retention bonus agreement for your employees. This template covers vital information like:

  • Effective date by when the payout will be made
  • Amount of bonus payable and mode of payment
  • Clauses and preconditions if applicable
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Disclaimer
This template is meant to provide general guidelines and should be used as a reference. This is not a legal document. greytHR will not assume any legal liability that may arise from the use of this template.
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