| Topic Name: |
dot-consulting exit strategy |
| Message Name: |
Bonus Repayment |
| Date Posted: |
01/06/2001 |
| In Reply To: |
How "binding" are the terms of the offer letter?
I believe, as the dot-economy slows, so too will the business of some of the dot-consultancies. I am looking ahead to my exit from one such company but considering the terms of my original offer letter in that light. The clause that troubles me is the repayment of sign-on bonus if I leave within one year of my start with the company. Does anyone have any experience with this? I am wondering whether my employer will likely just let this go, or if I must convince my next employer to pay it back on my behalf.
Thanks for any insight.
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| Message: |
I found myself in the same situation. Although I had almost completed a year with my firm, I still had one month to go. My situation was more of a mutual seperation and after speaking with my Manager they agreed to waive the repayment. If you are leaving more like mid-year it might be harder.
Legally I have heard it both ways. The problem is this and be very careful! If your employer has been direct depositing paychecks into your account they have the ability to then remove funds from that same account. Read your direct deposit agreement carefully. If you are going to try something, make very sure that you have moved any needed funds to another bank account.
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