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    belowaverage's Avatar
    belowaverage Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 14, 2009, 09:09 PM
    Repayment of Retention Bonus
    I received a retention bonus and had to sign a one page form that basically said that I would have to repay it if I left within a year. I bolted after 8 months. A year passed and all was well but four days later, here came the letter from my former employer wanting the money back. The document I signed didn't mention proration or any kind of statute of limitations but I'm wondering, is there any kind of legal "reasonable" time that former employers have to begin pursuing the recovery?

    Thanks
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Apr 15, 2009, 05:43 AM

    Hello below:

    They probably have three years in which to sue you for the money.

    excon
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #3

    Apr 15, 2009, 11:47 AM

    Unless the contract specifically stated that the retention bonus would be prorated if it had to be repaid, then no, the company would be entitled to the entire amount back. And as Excon pointed out, it would probably be a 3 year SOL as well.
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