RETENTION BONUS AGREEMENT

Date

……………………….
……………………….

Dear Mr./Ms. ____________________,

We are pleased to offer you (“you” or “Employee”) the following retention bonus agreement (the “Agreement”).
The purpose of this Agreement is to reward you for your continued service to XXXXXXXXX (the “Company”).

The terms of this Agreement are as follows:

1. Period of this Agreement

This Agreement will commence effective as of …………………, and will end on …………………………
(“Agreement Period”), provided, however, that Section 4 (Confidentiality) of this Agreement shall survive the
expiration or termination of this Agreement.

This Agreement is not renewable unless expressly agreed in writing between you and the Company, and it does
not guarantee your employment for any specific period of time. The Company reserves the right to honor the
provisions of your Employment Agreement with the Company, as amended (the “Employment Agreement”).

2. Retention Bonus Payment

Subject to the terms and conditions of Section 4 of this Agreement, the Company will provide you with a
retention bonus (“Retention Bonus”) in the gross amount of $_____________, which represents _____% of
your monthly salary as of the effective date of this Agreement. The Retention Bonus shall be a one-time
payment only.

Your Retention Bonus is a result of a comprehensive assessment for the year covering …………… to ………...,
2019, and has been assessed based on a total score composed of the following factors: sample only: >>> (a)
Performance Review, (b) tenure, (c) attendance reports.

The Retention Bonus payments made under this Agreement will not be subjected to tax.

3. Employment

You must remain actively employed for the duration of the Period of Agreement and in compliance with the
Company’s policies and directives concerning job performance and conduct as a result of your Retention Bonus
payment.

In the event that you resign or the Company terminates your employment for Cause during the Agreement
Period, you will be required to pay the Company a portion of your Retention Bonus payment on a pro-rated
basis. For example, if you resign or the Company terminates you for Cause on ……………………, you shall
need to pay the Company 50% of the Retention Bonus amount, payable by way of cash or through deduction
from your final pay.

For purposes of this Agreement, the Company shall be deemed to have terminated the Employee’s employment
for “Cause,” as determined by the Company, with examples of Offenses as defined in the Company Code of
Conduct, described herein but are not limited to:

(a) Any unauthorized material disclosure by Employee of the Company’s business practices or
accounts to a competitor.
(b) Wrongful misappropriation by Employee of funds, property, or rights of the Company.
(c) Wrongful destruction of business records or other property by Employee.
(d) Gross misconduct by Employee which results in serious damage to the Company.
(e) Employee’s material breach of, or inability to perform his obligations under, this Agreement other
than by reason of Disability.
(f) Any Grave or Major Offense under the Company’s Code of Conduct resulting to dismissal

The foregoing is by way of example and is not intended to be an exhaustive list of events which may be deemed
by the Company, in its discretion, to give rise to a termination for “Cause.”

4. Confidentiality

You agree to keep the existence of this Agreement and its terms confidential. Disclosure of the contents of this
Agreement to any third party, in part or as a whole, disqualifies you from any future benefits of similar kind.
You will also be subject to appropriate disciplinary actions related to disclosure of information.

1
5. Release and Waiver

Notwithstanding any provision contained elsewhere in this Agreement, the Company shall not be obligated to
make any payments to you upon the termination of your employment for any reason.

Further, the Company shall not be obligated to make any future payments of the same kind, regardless of
employee or Company performance. Thus, this Agreement shall take effect only on the date and period stated
herein, with no further obligations to the employee.

We look forward to your continuing contributions to the Company. Please acknowledge by signing below that you
have read, understood, and agree to the terms of this Agreement.
Sincerely,

Name
Position

ACKNOWLEDGEMENT

I have read, understand, and agree to the terms of this Agreement

Employee Signature over Printed Name Date