Template recruitment sign-on bonus agreement

TEMPLATE RECRUITMENT SIGN-ON BONUS AGREEMENT

Employee Name:_________________________________________________

Employee ID: ___________________________________________________
Department: ____________________________________________________
Working Title, Title Code and Pay Grade: _____________________________
Requisition Number of Position Filled: ________________________________
Starting Annual Salary: ____________________________________________
Total Bonus Amount: ___________ Percentage of Annual Salary: __________
Number of Payouts: ________
Payment Effective Dates and Amounts: _______________________________
_______________________________
Hiring Manager’s Name: ___________________________________________

The first payment of $________ will be made when the employee reports to work on date. The subsequent payments of $ __________ will be made upon completion of____ months of satisfactory or above service. This signing bonus is not part of base pay but is considered taxable income. The employee understands that the signing bonus is forfeited if the employee fails to report to work. The subsequent payments are forfeited if the employee is no longer in the position to which hired or if their performance is not satisfactory. The employee understands that a sign-on bonus is not included in salary calculations for retirement. The employee understands and agrees to these terms and conditions:

I Certify agreement and terms outlined above by signing below:

______________________________________________________________________

Employee Signature Date

______________________________________________________________________

Hiring Manager’s Signature Date

______________________________________________________________________

Associate Vice Chancellor – Human Resources Signature Date

Last updated 9/16/09