The Retention Bonus Agreement is a strategic document used by organizations operating under Austrian jurisdiction to secure the continued employment of key personnel during critical periods such as mergers, acquisitions, major projects, or organizational changes. It outlines the specific terms under which a bonus will be paid, including the retention period, payment conditions, and any performance requirements. This agreement type is particularly important in the Austrian business context, where it must align with strict labor laws, works council requirements, and tax regulations. The document typically includes provisions for bonus calculation, payment timing, confidentiality obligations, and potential repayment scenarios, all structured to comply with Austrian legal requirements while protecting both employer and employee interests.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of the agreement, including the employee's current position and reason for the retention bonus
3. Definitions: Key terms used throughout the agreement, including 'Retention Period', 'Retention Bonus', and 'Qualifying Conditions'
4. Retention Bonus Amount: Specification of the total bonus amount and any applicable tax treatments
5. Retention Period: Definition of the time period during which the employee must remain employed to receive the bonus
6. Payment Terms: Details of when and how the retention bonus will be paid, including any installment arrangements
7. Qualifying Conditions: Specific conditions that must be met to receive the bonus, including performance standards if applicable
8. Termination Provisions: Circumstances under which the agreement may be terminated and the consequences for the bonus payment
9. Repayment Obligations: Conditions under which the employee might need to repay the bonus
10. Confidentiality: Requirements for maintaining confidentiality about the terms of the agreement
11. Governing Law: Specification of Austrian law as the governing law and jurisdiction
12. Entire Agreement: Standard clause confirming this document represents the complete agreement between parties
1. Performance Criteria: Additional performance-based conditions for bonus payment, used when the bonus is not purely retention-based
2. Pro-rata Provisions: Terms for partial bonus payment if employment ends under specific circumstances, used when allowing for partial payments
3. Works Council Approval: Reference to works council approval where required by Austrian law for larger organizations
4. Non-Competition: Additional restrictions on post-employment activities, used when linking the bonus to non-compete obligations
5. Tax Gross-Up Provisions: Terms for employer handling of tax implications, used when offering tax protection
6. Multiple Payment Installments: Detailed schedule of multiple payments, used when the bonus is paid in installments
7. Change of Control: Provisions for what happens to the bonus in case of company ownership changes
1. Payment Schedule: Detailed breakdown of payment dates and amounts if paid in installments
2. Performance Metrics: Specific performance criteria and measurement methods if applicable
3. Calculation Method: Detailed explanation of how the bonus amount is calculated, including any pro-rata calculations
4. Tax Treatment Summary: Overview of tax implications and calculations as per Austrian tax law
Find the exact document you need
Deferred Compensation Agreement
An Austrian law-governed agreement establishing terms for deferring employee compensation, including vesting conditions and payment terms.
Download
Deferred Compensation Contract
An Austrian law-governed agreement establishing terms for deferring employee compensation to future dates, including payment terms and tax implications.
Download
Simple Compensation Agreement
An Austrian law-governed agreement establishing compensation terms and payment arrangements between parties, compliant with ABGB requirements.
Download
Transaction Bonus Agreement
An Austrian law-governed agreement establishing terms for a transaction-related bonus payment between employer and employee, including payment conditions and compliance requirements.
Download
Severance Payment Agreement
An Austrian law-governed agreement documenting severance payment terms and conditions between employer and employee upon employment termination.
Download
Commission Pay Agreement
An Austrian law-compliant agreement establishing commission-based compensation terms between employer and employee, including payment structure and performance criteria.
Download
Deferred Salary Agreement
An Austrian law-governed agreement establishing terms for deferring employee salary payments to future dates.
Download
Retention Bonus Agreement
An Austrian law-compliant agreement establishing terms for payment of a retention bonus to retain key employees.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)