Sample Relocation Repayment Agreement
Get My Template
A Relocation Repayment Agreement is a legal document that clearly defines pay-back terms if an employee leaves the company within a certain period of time after the relocation. It typically covers voluntary leave or termination with cause during the move, or for a specified period of time after relocation. They can, and should, be used for relocating current employees, and for candidates who will be offered relocation assistance in connection with a new job offer.
Relocation Repayment Agreements are important to protect the employer's investment, and also to let the relocating employee (or candidate) know what their costs would be if they left the employer soon after relocating with them.
Although we always recommend consulting a professional before executing any legal document, here's a sample Relocation Repayment Agreement that you can use as a basis to help define your repayment terms.
This Sample Relocation Repayment Agreement Includes:
- When and why the Repayment Agreement may be enforced
- Specified period of time that the agreement will be in effect
- Costs and terms of repayment and what would be due from the employee to the employer
- How relocation tax gross ups (if any) will be affected