Cash it? Shred it?
November 26, 2007 12:22 PM Subscribe
Job/bonus question: Have a "retention bonus" check on my desk for work in 2007, but am considering leaving for competing organization. What to do with the check?
posted by Arch1 to Work & Money (21 answers total)
Boss couldn't get mgmt of company to give us regular end-of-company-year bonuses to the amount promised, but he managed to wrangle the funds from the company via "retention" bonuses. So, expecting to stay, I signed an agreement that says that if I leave over the next two years, I'd have to return (minus taxes) the money. Now I'm being courted with a great offer by a solid competitor, and it would be a good career move to go; the check just arrived today, and taxes have already been taken out-- the remainder is sitting here.
Assuming I'm going, should I not cash the check? How valid are these contracts? I did the work, after all, but I also realized that I signed that agreement. And what about the money that just went to taxes? (If I return the rest, does the money sent to the gov remain with them and offset other income received?)