Employee Retention Agreement

Employee Retention Agreement

This employee retention agreement serves as a binding contract between {Employee Name} and {Organization} on {date}, regarding the following information:

1. {Name}, hereafter referred to as “Employee”, agrees to remain as {position} in {department} at {Company} for the next {amount of time}, even if the following occurrences should transpire:
1. {Event}

                                          i.    {Definition and parameters of event}

2. {Event}

                                          i.    {Definition and parameters of event}

3. {Event}

                                          i.    {Definition and parameters of event}

4. {Event}

                                          i.    {Definition and parameters of event}

2. Should one of these events occur, the Employee shall be compensated with {amount} {in lump sum/over a period of time}. The conditions of Employee eligibility are as follows:
1. {Condition}
2. {Condition}
3. {Condition}
4. {Condition}

Terms of Agreement

1. The terms of this agreement will be in effect from {date} to {date}. The agreement will expire on the agreed date of termination and the company shall be under no obligations at that time, including the payment of the retention bonus.

2. This law is entered into between the two parties in the state of {State} under all of its laws and jurisdictions. Any disagreements that arise between the two parties shall be mediated by {Third Party}.

{Company} and the Employee agree to abide by the aforementioned restrictions and conditions under the laws of {State}.

{Company Signer}		{Employee Signature}

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