Termination and retention bonus

[User_9580b173]

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User_9580b173
PARTICIPANT
February 4, 2025 at 1:09 am

I received a retention bonus at my company with a clause stating that if I resign within a year of the payout, I have to return the full amount. However, the clause only mentions repayment in case of resignation—it doesn’t specify anything about termination.

Now, I’ve been placed on a Performance Improvement Plan (PIP), and I suspect the company might eventually terminate me. If they fire me instead of me resigning, would I still have to repay the bonus?

Has anyone been in a similar situation? Would love to hear from employment lawyers or anyone who has dealt with this before. Thanks!

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[User_053f432e]

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User_053f432e
PARTICIPANT
February 4, 2025 at 8:07 am

I think they’ll ask you to resign.

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[User_9580b173]

U

User_9580b173
OP
February 4, 2025 at 8:24 am

Can be the case.

What if I reject to do so on my own? I work in a large private bank, if that’s relevant.

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[User_2172e2f2]

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User_2172e2f2
PARTICIPANT
February 4, 2025 at 8:34 am

They will directly or indirectly make your life hell
So you would eventually leave on your own

Or will state performance is not upto the mark & tell you to leave or they won’t give you your exp letter or make your background verification difficult

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