Refund Agreement for Cash Incentive Grants between Employee and Company
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Bonus & Incentive Agreements
Summary
This agreement is between an employee and the company regarding a cash incentive grant of up to $100,000 per individual, with a total pool of up to $575,000. The employee agrees to repay the unamortized portion of the grant if they voluntarily leave the company or are terminated for cause before January 1, 2008. The amount to be refunded is calculated based on the time remaining until that date. The agreement is signed by the employee upon receipt of the award.
EX-10.2 3 syprissolutions102.htm REFUND AGREEMENT TO AWARD CASH INCENTIVE GRANTS Refund Agreement to Award Cash Incentive Grants
Name: ______________________________
EXHIBIT 10.2
FORM OF REFUND AGREEMENT TO AWARD CASH INCENTIVE GRANTS IN AN AGGREGATE AMOUNT OF UP TO $575,000 WITH MAXIMUM INDIVIDUAL GRANTS OF UP TO $100,000 PER INDIVIDUAL, PAYABLE ON JANUARY 12, 2007
Agreement
In conjunction with my receipt of a Cash Award in the amount of $__________, I agree that I will refund the unamortized portion of the Award in the event that I voluntarily leave the employment of the Company or I am terminated for cause, prior to January 1, 2008. (The “unamortized portion” of the Award will be based on the number of calendar days through the termination date divided by 365.)
Signed: ______________________________
Name: ______________________________
Date: ______________________________
