Common use of Repayment Obligation Clause in Contracts

Repayment Obligation. Employee acknowledges and agrees that in the event of Employment Separation, Employee shall immediately owe Xxxxxxx the Retention Bonus, then due and owing. Further in the event of Employment Separation, Employee hereby authorizes Xxxxxxx to deduct the Retention Bonus from Employee’s final pay (including but not limited to any accrued bonus, commissions, wages and/or unused vacation), subject to any applicable minimum wage requirements. If the amount of Employee's final pay is less than the Retention Bonus, Employee covenants and agrees to pay said amount to Xxxxxxx by wire or cashier’s check within sixty (60) days from the date of the Employment Separation.

Appears in 4 contracts

Samples: Retention Bonus (Stewart Information Services Corp), Retention Bonus (Stewart Information Services Corp), Retention Bonus (Stewart Information Services Corp)

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