Hiring Bonus definition
Examples of Hiring Bonus in a sentence
An employee who has received a Hiring Bonus may not also receive a Recruitment and Retention Bonus.
Beginning January 1, 2018 through December 31, 2018, a $5,000 Hiring Bonus will be offered to a new qualified Correctional Officer or a new Correctional Officer Cadet in a classification listed in the Appendix of this Agreement.
Hiring Bonus eligibility for high-needs teaching certifications will be determined by the Superintendent.
For the avoidance of doubt, the Hiring Bonus shall be separate from and not be considered part of Executive’s Annual Bonus.
In addition, and to the extent permitted by applicable law, in the event Executive is required to repay the amount of the Hiring Bonus, Executive hereby authorizes the Company to reduce any compensation that is otherwise payable to Executive from the Company in connection with the termination of Executive’s employment and to apply such amounts to Executive’s repayment obligation under this Agreement.
The Hiring Bonus shall be repaid to the Company, in full, if within one (1) year of your Employment Commencement Date your employment with the Company (and its successors) is terminated either (i) by you or (ii) by the Company for Cause (as defined in Section 7.2(b)).
As part of this Agreement, you agree and acknowledge that you will not be eligible to receive, and will not earn, the second $20,000 installment of the Hiring Bonus.
The Hiring Bonus will not become fully earned and vested unless you remain an active full-time employee through the second anniversary of the Employment Commencement Date.
The pro rata repayment will be the product of (i) the Hiring Bonus and (ii) the fraction where the numerator is the number of full months remaining in the two (2) year period on the date of termination and the denominator is twenty-four (24).
Subject to any required tax and other deductions, $200,000 of the Hiring Bonus shall be payable with the first payroll cycle following the Effective Date or as soon as reasonably practical thereafter (“First Hiring Bonus Payment”).