QUESTION
If I resign to care for a parent, must I repay the bonus money?
Asked on Feb 28th, 2022 on Labor and Employment - New York
More details to this question:
Repayment of Guaranteed Award: If you resign (or give notice of your resignation) or your employment is terminated for Cause (or you are given notice that your employment will be terminated for Cause) within the one year period following your Start Date, you will repay the gross amount of the cash portion of your Guaranteed Award within 30 days of your termination date. You acknowledge and agree that the Guaranteed Award does not constitute wages or earned compensation of any kind, and that by accepting this offer and signing below, you expressly authorize “The Bank” to deduct any amounts owed pursuant to this paragraph from any account that you maintain with “The Bank” , or from any commission or other compensation payments (other than salary) owed to you by “The Bank” (where permissible by law). If this is not sufficient, then you shall repay the outstanding amount by check. You further agree to pay “The Bank” for all expenses it incurs, including attorney's fees, in connection with
1 ANSWER
Is there a provision within your agreement that if you resign with good cause that you will not be required to repay a bonus, advance or whatever else your employer calls the money? It appears that we're you fired for good cause, presumably defined within your agreement, that you would be responsible for repayment.
Parties are free to enter into agreements. No lawyer can provide you with advice or an opinion you can rely upon without reviewing all documents you may have signed or which were incorporated by reference into the agreement from which you extracted what may or may not control your contractual duties or obligations. If the amount in controversy is substantial pay an employment lawyer to review all documents. Many of us have been doing so remotely for clients for years. Read lawyer reviews online to decide for yourself.
Remember that the last sentence you provided with what appears might be prevailing party attorney fees could be multiple times the amount you are considering whether to repay. Good luck!
Answered on Mar 01st, 2022 at 5:53 AM