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Retention Agreement Validity

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1 Retention Agreement Validity on Wed Jun 07, 2017 11:26 am

Anonymous088


Arresto Menor
Hi All,

I hope you can help me I was stuck in a retention agreement, I was shocked that in my first day there was a bond agreement in the company that I joined.

The agreement contains the following:

1.0 This retention agreement is for a minimum cost of Php75,000 including but not limited to external training, internal training, online access, internal knowledge transfer through hands on training and development and other related programs. The expenses would also include hotel accommodation and other incidental expenses related to local or international trainings
2.0 In consideration, you agree to remain at (Company) for the duration of 24 Months from signing this agreement, paternity/maternity leaves not included.

3.0 If the exclusive judgement of (Company) that your services will no longer be required or if your performance should prove unsatisfactory or below (Company) standards, or in case of violation of any of Company policies, rules and regulations as well as the terms and conditions hereof your employment may be lawfully terminated even before the expiration of the said period above

In such case, you are required to reimburse (Company) the actual costs plus liquidated damages.

4.0 Should you wish to resign or severe your employment before the end or within the duration of your retention agreement with (Company), you agree to reimburse. pay Company the cost of your training


I just want to know if by any case I wish to resign due to personal reasons do I need to pay the retention bond or the training itself only?(I don't have any training yet and most of my teammates already resigned as well I was stuck in the company handling all the queries by myself Im still on probationary period)

Sana Po matulungan nyo po ako Very Happy



Last edited by Anonymous088 on Wed Jun 07, 2017 1:19 pm; edited 1 time in total

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2 Re: Retention Agreement Validity on Wed Jun 07, 2017 12:50 pm

lukekyle


Reclusion Perpetua
the cost of the training IS the whole amount

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3 Re: Retention Agreement Validity on Wed Jun 07, 2017 1:12 pm

Anonymous088


Arresto Menor
lukekyle wrote:the cost of the training IS the whole amount

hi ano pong ibig ninyong sabihin meaning whole 75k po babayran ko if ever? na magreresign ako even if wala pa po akong training? Maraming salamat po Very Happy

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4 Re: Retention Agreement Validity on Wed Jun 07, 2017 1:16 pm

lukekyle


Reclusion Perpetua
yes, yung buong 75k although syempre with any agreement pwede mo naman icontest yan. yung lang if umabot sa korte and natalo ka pati cost ng attorney nila ikaw ang magbabayad.

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5 Re: Retention Agreement Validity on Wed Jun 07, 2017 1:23 pm

Anonymous088


Arresto Menor
lukekyle wrote:yes, yung buong 75k although syempre with any agreement pwede mo naman icontest yan. yung lang if umabot sa korte and natalo ka pati cost ng attorney nila ikaw ang magbabayad.

Aruyyy, paano po kapag ikinontest ko since ako na lang po maiiwan sa department namin lahat sila umalis na, pwede ko po bang gawing reason iyon? at yung 4.0 po na condition sabi dun training lang babayaran ko. sorry po medyo blurred pa sa akin ito at nung first day ko lang nalaman na merong retention bond. kaya no choice ako Sad

Tinanong ko din mga kasamhan ko dito kapag wala pa daw training pwede pa kaso mukhang in legal terms malabo pala Sad

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6 Re: Retention Agreement Validity on Wed Jun 07, 2017 1:37 pm

lukekyle


Reclusion Perpetua
nope hindi reason yung mag isa ka nalang. pag dinemanda ka na pwede kang magreklamo na masyadong mataas ang amount. the amount must be reasonable. yung judge ang madecide kung reasonable or hindi.

so hindi ba pinapirma sayo itong agreement?

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7 Re: Retention Agreement Validity on Wed Jun 07, 2017 1:45 pm

Anonymous088


Arresto Menor
lukekyle wrote:nope hindi reason yung mag isa ka nalang. pag dinemanda ka na pwede kang magreklamo na masyadong mataas ang amount. the amount must be reasonable. yung judge ang madecide kung reasonable or hindi.

so hindi ba pinapirma sayo itong agreement?

Pinapirma po siya sa akin on my first day kaso nung Job offer I did not know na meron pong ganito kaya no choice since I have already signed the JO few few weeks before my first day Sad. Yun lang po pala pwede ko ilaban parang mahina po pala battle ko since I had no choice pa din pala but to stay. Maraming Salamat po malinaw na po sa akin, bad record din po ba sa isang working professional kapg nalaman ng future companies na gusto kong salihan na may demandahan kami sa Company?

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8 Re: Retention Agreement Validity on Wed Jun 07, 2017 2:31 pm

lukekyle


Reclusion Perpetua
yes. syempre tendency ng other employers is to shun mga employees na nagdemanda. next time you can refuse to sign kahit na first day mo

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9 Re: Retention Agreement Validity on Wed Jun 07, 2017 2:46 pm

Anonymous088


Arresto Menor
lukekyle wrote:yes. syempre tendency ng other employers is to shun mga employees na nagdemanda. next time you can refuse to sign kahit na first day mo


Yes po Marami pong salamat sa legal advise Smile Smile God bless ! Very Happy

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