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Please accept Indians. I can’t go back. 🇺🇸🙏
I have an offer from an organization that says: *Sign-on Bonus: Claw-Back Clause: You will receive a one-time sign-on bonus of 40k Canadian Dollars, less applicable taxes and withholdings, to be paid on the payroll date immediately following completion of thirty (30) days of employment, subject to your compliance with requirements related to confidentiality and non-solicitation. In the event that, prior to your first anniversary of your start date, your employment is terminated by Nextiva for cause, or you terminate your employment for any reason other than death or disability, you will be required to pay back the sign-on bonus within sixty (60) days after such termination. Is this standard? Clawback on being let go by the company as well? Should I ask for it to be removed? I was to get retention bonus of an equal amount at my current org if I let go of the new offer. New Offer: 220K base and 40K sign on Current Org: 170K base and 30K retention bonus (October) Thoughts? Take it or leave it ? or request on claw back TO NOT BE CONDITIONED IF BEING LET GO BY THE COMPANY?
Claw back is standard. They just don't want someone collecting sign up bonuses across 5 firms and staying at none
Right, understandable if the employee leaves, not so understandable if the company is letting go the employee, I thought.
When the company terminates, It clearly says for cause. It is a legal thing. From my Random internet search Reasons an employee could be terminated for cause could include: Stealing Lying Failing a drug or alcohol test Falsifying records Embezzlement Insubordination Fraud Felonious conduct Disclosing private, confidential information or trade secrets Deliberately violating company policy or rules
Very common. Nothing to worry about it.
What title level was this comp package for? Any RSU or option grants?
Yes. Mostly standard. I did have similar clauses in all my offers. Lots of people have multiple offers in hand and then chooses one. They don’t want you to work a month at all those companies and collect joining bonuses.
Right, understandable if the employee leaves, not so understandable if the company is letting go the employee, I thought.