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Retention Agreement
Free retention agreement template — offers a key employee a bonus to stay through a critical period, such as an acquisition.
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This free retention agreement covers 1. Retention Bonus, 2. Retention Period, 3. Payment Timing, 4. Voluntary Departure or Termination for Cause, 5. Termination Without Cause with 6 clearly marked [placeholder] fields to fill in — built for small business owners and first-time managers handling an HR moment professionally without a dedicated HR department to lean on. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Retention Agreement
Company: [Company Name] Employee: [Name] Effective Date: [Date]
1. Retention Bonus
In exchange for remaining employed through the retention period described below, Company will pay Employee a retention bonus of [Amount].
2. Retention Period
Employee must remain continuously employed through [Date] (the "Retention Date") to earn the bonus.
3. Payment Timing
The bonus will be paid within [Number] days after the Retention Date, [in a lump sum / in installments — specify], less applicable withholdings.
4. Voluntary Departure or Termination for Cause
If Employee resigns voluntarily or is terminated for cause before the Retention Date, no bonus is owed.
5. Termination Without Cause
[State whether the bonus is still owed, in full or prorated, if Company terminates Employee without cause before the Retention Date — this protects the employee from losing the bonus to a decision outside their control.]
6. Other Terms
This Agreement does not change Employee's at-will employment status or any other terms of their employment, except as described above.
Company: ______________________ Date: ____________ Employee: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. What happens if the COMPANY ends the employment before the retention date (Section 5) is the clause employees should scrutinize most closely — without protection there, a retention bonus can be avoided simply by letting the employee go just before it vests.*
Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.
What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 6 standard sections: 1. Retention Bonus, 2. Retention Period, 3. Payment Timing, 4. Voluntary Departure or Termination for Cause, 5. Termination Without Cause, 6. Other Terms
- 6 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Growing teams
Formalizing hiring and performance processes as a company adds its first employees.
FAQ
Is this retention agreement template really free?
Yes, completely free — view, edit, and download this retention agreement as a PDF without creating an account.
What does this retention agreement cover?
This hr template includes 1. Retention Bonus, 2. Retention Period, 3. Payment Timing, 4. Voluntary Departure or Termination for Cause. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. Employment documents sit on top of a mix of federal, state, and sometimes city labor law — at-will employment rules, required notices, and what you can and can't put in writing all vary. Have an employment attorney or HR professional confirm this fits your jurisdiction before you use it.
Can I edit the wording?
Yes — edit directly on the page, adjust any section or clause, and re-fill the 6 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.
Where can I find more free templates like this?
Browse more free hr and related document templates in the docstoc library at /document-templates/.
More free document templates
- Employee Offer Letter
- Employee Written Warning / Disciplinary Notice
- Employment Agreement
- Cover Letter
- Employee Handbook Outline
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Templates are drafted for general use, not a substitute for legal advice — check the note on each page for specifics.
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