Category : Retention

After You Have Signed a Retention Agreement

What happens if you sign a retention contract and later change your mind? First, it is important to note that before you sign this type of agreement you should confer with a knowledgeable attorney who can make sure you are considering all your options and help prevent regret later. Second, if you have already signed […]

Can I Ask a Prospective Employer to Pay My Retention Package that I will Lose?

If you have entered into a retention agreement with your employer and you are offered your dream job during the retention period, it can create quite a dilemma for you. Many people make the mistake of thinking there is no way to take the new job without losing the retention bonus they would’ve received if […]

Responding to a Retention Bonus Offer

If you are offered a retention bonus, your first instinct may be to readily accept it because unexpected money is always exciting. However, before you go with your first instinct, take time to consider the following: ● Read the contract closely and make sure you understand all its terms. You should also confer with an […]

Retention Agreement vs. Severance Agreement: Where do Releases Fit in? Part 2

Hopefully you have read our prior blog that is titled “Retention Agreement vs. Severance Agreement: Where do Releases Fit in? Part 1.” If not, you may want to refer to it before continuing with this blog. Below are a few pointers on what to look for when you are presented with a retention agreement that […]

Retention Agreement vs. Severance Agreement …. and Releases: Part 1

An increasing number of employers are using retention agreements to retain their key employees during times of transition or insecurity. At its most basic level, a retention agreement is simply the employer saying, “if you stay, we will pay.” In other words, the employer agrees to pay the employee a certain sum of money if […]

Tips for Negotiating your Retention Agreement

If you are being offered a retention agreement by your employer, it is important to focus not only on the rewards being offered (salary, benefits, bonus, etc.), but also the risks (restrictions on your employment autonomy). Many people do not think about how a retention agreement can restrict their freedom. A retention contract should be […]

Retention, Severance & Waivers – Read Your Documents Carefully

If your employer presents you with a retention agreement and it contains waivers of claims, consider the following: ● Your employer is presenting you with the contract because you have something they want. This typically gives you leverage to negotiate the contract and obtain more favorable terms than what is being offered. An experienced attorney […]

Retention Agreements v. Severance Agreements

The use of retention agreements is becoming more popular with employers during periods of insecurity, including mergers and acquisitions. The primary point of retention agreements is the employer pays for the employee to stay. In other words, the employee agrees to remain as an employee for an agreed upon period and, in return, the employer […]

What to do if You are Offered a Retention Bonus – Part 2

This blog is a continuation of our prior blog post titled “What to do if You are Offered a Retention Bonus – Part 1.” Below are a few more items to consider when you are presented with a Retention Agreement by your employer: ● It is common for a Retention Agreement to provide that the […]

What to do if you are offered a Retention Bonus – Part 1

The primary reason employers offer retention bonuses is to ensure key employees will remain with the company after a merger, to protect relationships with important clients during the transition, or to continue to gain from your unique knowledge or skill. In other words, you are deemed to be valuable to the continued success of the […]