Transition Bonus. Upon Commencement of employment, Employer will pay to Employee the gross sum of Seventy-Five Thousand Dollars and Zero Cents ($75,000.00), less applicable withholdings, to compensate for Employee’s transition expenses. Employee understands that should he voluntarily resign within the first twelve (12) months of his employment with Employer, he will be required to pay back to Employer the entire Transition Bonus less one-twelfth (1/12) the entire bonus for each complete month he is employed.
Appears in 3 contracts
Sources: Incentive Compensation, Confidentiality, Non Disclosure and Non Compete Agreement, Incentive Compensation, Confidentiality, Non Disclosure and Non Compete Agreement, Incentive Compensation, Confidentiality, Non Disclosure and Non Compete Agreement (Group 1 Automotive Inc)