As set forth in our offer letter to you, you will be receiving a [specify amount] sign on bonus. That bonus is subject to the terms set forth in this Agreement.
By accepting our offer of employment as a knowledge by your signature below you acknowledge that the sign-on bonuses is being paid to you as an incentive to work for our company, but a subject or repayment if any of the following should occur:
1. You fail or refuse to report to work on your starting date of employment;
2. You resign your employment or are discharged within one year of your start date.
If you fail a refuse to repay the sign-on bonus within 30 days after the occurrence of either of the (1) or (2) above, you agree to pay the bonus plus an annual percentage rate of 8%, determined by applying a daily rate of 1/365. Should you fail a refuse to make full repayment as set forth herein, you agree to pay for the company’s attorneys fees and any costs of collection.
Please indicate your acknowledgment an agreement to the terms and conditions of this agreement by signing below:
Agreed and Accepted by: _______________________________
Social Security Number: