Resigning Bonus Clause Samples
A Resigning Bonus clause outlines the terms under which an employee may receive a bonus upon voluntarily leaving their position. Typically, this clause specifies eligibility criteria such as length of service, performance standards, or the manner of resignation, and may detail the amount or calculation method for the bonus. Its core function is to incentivize orderly transitions and reward employees for their service, while also providing clarity on compensation expectations at the end of employment.
Resigning Bonus. Similar to the original signing bonus, Patriot shall pay to you, within five (5) business days following the Renewal Date, a one-time Resigning Bonus of two hundred thousand dollars ($200,000.00), minus required tax withholding amounts; provided that in the event your employment with Patriot is terminated by Patriot for Cause or by you without Good Reason (as such terms are defined below) (i) within three (3) months following the Renewal Date, you shall re-pay to Patriot fifty percent (50%) of such Resigning Bonus or (ii) more than three (3), but less than six (6), months following the Renewal Date, you shall re-pay to Patriot twenty-five percent (25%) of such Resigning Bonus.