A "sign-on bonus" clause refers to a financial incentive provided by an employer to a new employee as part of their employment agreement, typically paid upon the employee's commencement of work. This bonus is often used to attract top talent or compensate for potential losses incurred by the employee when leaving their previous job.
Sign On Bonus. In addition, we are pleased to offer you a one-time sign on bonus of $ 25,000 to be paid out concurrent with your first paycheck or direct deposit, subject to your execution of the Company’s Sign On Bonus Repayment Agreement and the terms and conditions outlined therein.
Sign On Bonus Repayment Agreement. This Sign On Bonus Repayment Agreement (the “Agreement”) is entered into on June 23, 2016 by and between Max Bouvat- Merlin (the “Employee”) and Sonos, Inc. (the “Company”).
Sign On Bonus. The Company will provide you with a sign-on bonus of $200,000.00, to be paid on your first pay cycle, which will be subject to customary deductions and withholdings as required by law. If you should voluntarily terminate your employment with Sage within the first 12 months of receiving the sign-on bonus, you agree to return the net amount of the payment within 30 days of your departure date. If you should voluntarily terminate your employment with Sage within 13-24 months of receiving the sign-on bonus, you agree to return to the Company 50% of the net amount of the sign-on bonus within 30 days of your departure date.
You will be eligible for a one time Sign-On Bonus of $200,000 (the “Sign-On Bonus”), less applicable taxes and withholdings, to be paid as follows: (i) 50% of the Sign-On Bonus within the first sixty days from your Start Date; and (ii) 50% of the Sign-On Bonus within sixty days following the six-month anniversary of your Start Date. Should your employment with CarGurus terminate, for any reason, within 12 months, or on the one-year anniversary of your Start Date (the “Repayment Period”), you must immediately repay to CarGurus the Sign-On Bonus (or portion(s) thereof) that you received. In the event of such termination, CarGurus may, in its discretion, also deduct any unreturned Sign-On Bonus amount from any compensation, severance, commission or other amount due to you, subject to applicable laws. For the avoidance of doubt, you will not be required to repay to CarGurus the Sign-On Bonus if you remain employed with CarGurus following the Repayment Period.
Sign-on Bonus Equity - You will receive a sign-on bonus of 20,000 shares of Spartan Motors Restricted Stock (“RS”) which will be granted effective on or around your start date (subject to start date no later than end March). These shares will be subject to pro-rata vesting with three tranches vesting 33% per year for the three (3) years following the award. In order to receive each tranche of restricted shares, you must be employed at the time of vesting. The grants described above are subject to the terms of the Plan and applicable award agreements.
Sign-on Bonus Cash - You will receive a sign-on bonus in cash of $175,000 (gross) which will be paid between 1 January 2021 and 31 January 2021. If you are separated from the company with cause or resign your employment, the cash portion of the sign-on bonus is subject to repayment by you to the company as follows: (1) if such separation or resignation occurs within one year or less, you must repay the entire amount of the bonus; or (2) if such separation or resignation occurs within two years or less, but after you have been employed for more than one year, you must repay one-half of the amount of the bonus. If repayment is necessary, such amount shall be paid in cash to the company within 10 days after demand.
Sign-On Bonus. You will also receive a sign-on bonus of $100,000, with $50,000 payable on your first bi-weekly pay period after ninety (90) days of employment, and an additional $50,000 payable on the first bi-weekly pay period following the second anniversary of your start date (each a “Sign-On Bonus Installment Payment”). In order to be eligible for any portion of the sign-on bonus, you must be an active employee at the time of the payment of any Sign-On Bonus Installment Payment.
Deferral of Sign-On Bonus. (a)In the case of a Sign-On Bonus that is immediately vested or may become vested within 13 months of its award, the Company may require through a non-elective deferral that all or any portion of the Participant’s Sign-On Bonus shall be deferred as a Deferral Credit and distributed in such form, and at such time, as provided in Section 7. The Company’s non-elective deferral of such Sign-On Bonus shall be made at such times as are permitted under Section 409A (for example, prior to the Participant having a legally binding right to such Sign-On Bonus).
Sign-on bonus: The Board Member will also receive a 70,000 Euro sign-on bonus to help make up for the annual bonus and long-term incentive loss from his current company as a result of him leaving before year end. This bonus should be paid within the first 30 days of his employment. This sign-on bonus is not part of the base salary calculation but is considered taxable income. The Board Member understands that the signing bonus is forfeited if the Board Member fails to report to work“.
Conditional Sign-On Bonus. KDCE agrees to pay Candidate a one-time Conditional Sign-On Bonus of 10 million shares of its common stocks (“Bonus”), subject to all required taxes and withholdings, to be paid effective immediately or upon the date on which KDCE amends its articles of incorporation to increase the number of authorized shares of Common Stock to a number of shares sufficient to permit the payment within thirty (30) days following Candidate’s first day of work for KDCE (“Start Date”). The Parties agree that the Bonus is an unvested wage advance upon receipt that Candidate will earn in its entirety by remaining employed by KDCE for 12 months following the Start Date.
A sign-on bonus is a financial incentive offered to a potential employee by an organization as an enticement to join the company. It is typically a one-time payment separate from an employee’s salary or other compensations. The purpose of a sign-on bonus is to attract talent, especially when there’s stiff competition for skilled workers or to compensate for relocation costs, to offset salary differences, or to entice professionals with highly sought-after skills.
A sign-on bonus should be considered in the following situations:
Competitive Job Market: When there is intense competition to attract qualified candidates, offering a sign-on bonus can make a job offer more appealing.
Specialized Skills: If the role requires niche skills or qualifications, a sign-on bonus can be an incentive for candidates who possess those capabilities.
Geographical Relocation: When the position requires the candidate to relocate, a sign-on bonus can be used to cover moving expenses or related costs.
Compensation Gaps: To make up for a financial discrepancy if the offered salary does not meet a candidate’s expectations, a sign-on bonus can bridge this gap.
Immediate Start Requirements: If there is an urgent need to fill the position immediately, a sign-on bonus might motivate candidates to accept the offer promptly.
When drafting a sign-on bonus agreement, consider including the following components:
Parties Involved: Clearly state the names of the organization and the employee receiving the sign-on bonus.
Bonus Amount: Specify the monetary value of the bonus being offered.
Payment Schedule: Detail how and when the bonus will be paid (e.g., lump sum upon starting employment, payable after a probation period).
Conditions for Bonus: Clearly outline any conditions that must be met to receive the bonus, such as staying with the company for a certain period.
Repayment Clause: Include terms that specify if and when the bonus must be repaid (e.g., if the employee leaves before a stipulated time).
Legal Disclaimers: Ensure the document adheres to employment laws and regulations, providing legal disclaimers where necessary.
Example:
The company will pay [Employee Name] a sign-on bonus of $5,000, payable within 30 days of starting employment. This bonus is contingent upon the employee remaining employed for at least 12 months. If the employee resigns or is terminated for cause before this period, they agree to repay the bonus in full.
Sign-on bonuses are often included in:
Employment Contracts: Especially for roles that are hard to fill or require specialized skills, employment contracts may include terms for a sign-on bonus.
Executive Agreements: High-level executives often receive sign-on bonuses as part of their comprehensive compensation package.
Offer Letters: When making job offers, companies may mention sign-on bonuses directly in the offer letter to make the package more appealing.
Non-Compete Buyouts: In some cases, sign-on bonuses are used to compensate employees who may lose bonuses or other benefits upon leaving their current employer, often as part of buyout or non-compete clause negotiations.
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