Current Events > Paying company back a bonus.

(+) Yeah! (+)

How does a company even claw back a retention bonus they give you? Assuming it was based on you staying at the company for x months but you leave before then.

@Cleo_II you might know?

If you sign a contract stating you must work for ____ x amount of time before receiving the bonus, then sure.

I know people that have had a $10k bonus for a place and bounced two months after.

TastyPopcorn posted...

If you sign a contract stating you must work for ____ x amount of time before receiving the bonus, then sure.

I know people that have had a $10k bonus for a place and bounced two months after.

Yeah a retention bonus. Like, we'll give you a bonus now and if you leave within 1 year, you pay it back.

If I'm leaving the company, how do they enforce it?

As far as I know they can't do shit once you've stayed long enough

MC_BatCommander posted...

As far as I know they can't do shit once you've stayed long enough

This.

But if you're ducking out early like yeah they can absolutely come after you for that money. That's what the contract is for.

If you signed a contract, which you probably did in order to get hired, then they could enforce it by suing you if you dont want to pay it back + never wanting to employ you again. Would they do it? Who knows.

emblem boy posted...

If I'm leaving the company, how do they enforce it?

Courts say hello. Companies will take you to court even if it's a net loss to do so just to fuck you

CanuckCowboy posted...

This.

But if you're ducking out early like yeah they can absolutely come after you for that money. That's what the contract is for.

Yes, I am leaving early.

samurai bandit posted...

If you signed a contract, which you probably did in order to get hired, then they could enforce it by suing you if you dont want to pay it back + never wanting to employ you again. Would they do it? Who knows.

Yeah, that's what I want to know. How do they come after you

emblem boy posted...

Yeah, that's what I want to know. How do they come after you

You give them the money back or a guy with a baseball bat pays you a visit.

They'll probably demand the money back and if you don't pay they'll sue you

The contract doesn't specify what happens if you duck out early?

Axiom posted...

Courts say hello. Companies will take you to court even if it's a net loss to do so just to fuck you

Lol

If you know, you know
If you dont know, you make up weird shit on the internet

MC_BatCommander posted...

They'll probably demand the money back and if you don't pay they'll sue you

Presumably this.

Blame the company CPA

So the company paid you money, and said if you leave before X months, you have to pay it back? That seems pretty strange.

All the long term incentive plans I know are like "Here is 100 shares or $5,000 cash, but you don't get it until it vests in 1 year"

emblem boy posted...

Yeah, that's what I want to know. How do they come after you

By filing a civil suit in court and having someone serve you the papers. Are you trying to ask how civil suits in general work?

And no, they will not "take a loss to prove a point". Imagine thinking that. Lol. How much does that guy hate/disrespect his employer to think that

Expect to hear from their legal team if you dont pay it back. Theyre very serious about it. A friend of mine quit just a couple of weeks before the end of their 2 year sign on claw back period and was a very respected employee and they still made him pay every penny back.

The getting sued part is probably what will happen.

I have a friend who was able to convince the company that he would pay it back through a payment plan. He paid once and they acknowledged it. Then he stopped paying and they never contacted him about it...

MC_BatCommander posted...

They'll probably demand the money back and if you don't pay they'll sue you

The contract doesn't specify what happens if you duck out early?

No, doesn't specify. Just that I have to pay it back.

AngelsNAirwav3s posted...

So the company paid you money, and said if you leave before X months, you have to pay it back? That seems pretty strange.

All the long term incentive plans I know are like "Here is 100 shares or $5,000 cash, but you don't get it until it vests in 1 year"

Yeah. It wasn't a sign on bonus, but a retention bonus. I guess they wanted me to have access to the money now rather than later.

CanuckCowboy posted...

Cleo_II posted...

Expect to hear from their legal team if you dont pay it back. Theyre very serious about it. A friend of mine quit just a couple of weeks before the end of their 2 year sign on claw back period and was a very respected employee and they still made him pay every penny back.

Yup. They give no fucks and will make you an example so everyone else knows what happens

Naysaspace posted...

By filing a civil suit in court and having someone serve you the papers. Are you trying to ask how civil suits in general work?

No, I was more asking if it would end up being a legal matter. But it seems like that's what it is.

Cleo_II posted...

Expect to hear from their legal team if you dont pay it back. Theyre very serious about it. A friend of mine quit just a couple of weeks before the end of their 2 year sign on claw back period and was a very respected employee and they still made him pay every penny back.

Oh well