This document is an optional clause which can be used in an employment contract. It should be used for employees who are entitled to receive a retention bonus.
For an employment agreement, see the separate precedent collection, including the “Basic employment agreement (short form)” and “Basic employment agreement (long form)”. Clauses should be adapted to ensure consistence of terminology, particularly in relation to defined terms.
This document has been authored for Lexis Nexis and is authorised by Joe Catanzareti, Partner, Clayton Utz, Sydney and updated by Brooke Pendlebury, Principal, Pendlebury Workplace Law, Sydney.
This document is prepared with the assistance of Specialist Editor Justine Turnbull, Partner, Seyfarth Shaw Australia.