Relocation Repayment Agreement: Definition & Sample

A relocation repayment agreement is a legal document that provides repayment of any relocation assistance benefits received by the employee. It also details what happens in the event of termination or resignation before the end of the contract period.

For example, suppose an employee resigns after one year and does not exercise their right to purchase shares under a share incentive plan (SIP). In that case, they must repay all SIP benefits to the company and reimburse them for any costs incurred by providing financial advice and tax advice relating to those plans.

Common Sections in Relocation Repayment Agreements

Below is a list of common sections included in Relocation Repayment Agreements. These sections are linked to the below sample agreement for you to explore.

Relocation Repayment Agreement Sample

RELOCATION EXPENSES AGREEMENT

This Relocation Expenses Agreement (the “Agreement”) is entered into by and between Advanced Micro Devices, Inc. (“AMD”) and Rick Bergman (“Employee”) (collectively, the “Parties”).

Relocation Expenses . AMD agrees to provide Employee, and/or designated third parties on behalf of Employee, certain expenses associated with Employee’s relocation in connection with Employee’s AMD employment (“Relocation Expenses”). Relocation Expenses shall include only those expenses authorized and described in the enclosed Relocation Guidelines, and/or other expenses related to Employee’s relocation that are pre-approved in writing by an AMD Vice-President. Employee’s estimated relocation expenses are $263,184.00. Actual Relocation Expenses may be greater or less, and the terms of this Agreement apply only to the amount actually incurred by or paid to Employee.

2.	Repayment of Relocation Expenses . Employee agrees to repay to AMD all or a prorated amount of the Relocation Expenses, according to the following terms:

(a)

Repayment Due to Termination of Employment. If Employee’s employment with AMD terminates less than 13 full months after the effective date of Employee’s hire or transfer, Employee agrees to repay one hundred percent (100%) of the Relocation Expenses paid by AMD. If Employee’s employment with AMD terminates at least 13 full months after the effective date of Employee’s hire or transfer, but less than 24 full months after the effective date of Employee’s hire or transfer, Employee agrees to repay the full amount of the Relocation Expenses paid by AMD, less eight point thirty-three percent (8.33%) for each full month of employment completed after the twelfth month of employment . Employee agrees that repayment obligations under this Agreement are not reduced by completion of partial months of employment. Employee further agrees that Employee will repay Relocation Expenses by no later than the effective date of the employment termination, and that any outstanding balance on such repayment obligation is delinquent and immediately collectable the day following the effective date of termination.

(b)

Repayment Forgiveness. AMD agrees to forgive any repayment due AMD under this Agreement where AMD terminates Employee’s employment due to a company- or department-wide reduction-in-force. AMD may also, in its sole discretion, forgive any repayment due AMD under this Agreement under circumstances of an extraordinary or unavoidable nature. The Parties agree that Employee’s voluntary termination of his/her employment, or AMD’s termination of Employee’s employment for any reason other than those stated in this section 2(b), are not conditions requiring forgiveness of any repayment due AMD under this Agreement.

3.	No Guarantee of Continued Employment . Nothing in this Agreement guarantees employment for any period of time.

Consent to Offset . Employee agrees that any repayment due AMD under this Agreement may be deducted to the extent permitted by law from any amounts due Employee from AMD at the time of employment termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s).

Acknowledgements and Integration . Employee understands he/she has the right to discuss this Agreement with any individual, and that to the extent desired, he/she has availed himself/herself of this opportunity. Employee further acknowledges that he/she has carefully read and fully understands the provisions of this Agreement, and that he/she is voluntarily entering into it without any duress or pressure from AMD. Employee also understands and acknowledges that this Agreement is the entire agreement between him/her and AMD with respect to this subject matter, and Employee acknowledges that AMD has not made any other statements, promises or commitments of any kind (written or oral) to cause Employee to agree to the terms of this Agreement.

Severability . The Parties agree that should any provision of this Agreement be declared or determined by any court to be illegal, invalid or unenforceable, the remainder of the Agreement shall nonetheless remain binding and enforceable and the illegal, invalid or unenforceable provision(s) shall be modified only so much as necessary to comply with applicable law.

EMPLOYEE ADVANCED MICRO DEVICES, INC. Signature: Printed Name:

Reference:
Security Exchange Commission - Edgar Database, EX-10.56 4 dex1056.htm RELOCATION EXPENSES AGREEMENT, Viewed January 27, 2022, View Source on SEC.

Who Helps With Relocation Repayment Agreements?

Lawyers with backgrounds working on relocation repayment agreements work with clients to help. Do you need help with a relocation repayment agreement?

Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate relocation repayment agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.

ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.

How ContractsCounsel Works Hiring a lawyer on ContractsCounsel is easy, transparent and affordable. 1. Post a Free Project Complete our 4-step process to provide info on what you need done. 2. Get Bids to Review Receive flat-fee bids from lawyers in our marketplace to compare. 3. Start Your Project Securely pay to start working with the lawyer you select.

Meet some of our Relocation Repayment Agreement Lawyers

Daniel D.

Owner / Attorney Free Consultation Member Since:
June 29, 2023

Daniel D.

Owner / Attorney Free Consultation Naples, Florida 6 Yrs Experience Licensed in FL Ave Maria School of Law

I was born and raised in Wayne, New Jersey and attended Seton Hall University, graduating cum laude. I followed my family down to Florida to attend Ave Maria School of Law where I graduated cum laude. I was admitted to the Florida Bar in 2018. During law school, I participated in the Certified Legal Internship program with the State Attorney's Office of the 20th Judicial Circuit and litigated 5 jury trials, 1 non jury trial and argued various motions before the court under the supervision of an Assistant State Attorney. I was an Assistant States Attorney for Collier County from 2018 to 2020 before moving into private practice in the areas of real estate and first party property from 2020 to 2021. As of November 2021, I started my own law practice that focuses on business planning, real estate and estate planning.

Vicki P.

Free Consultation Member Since:
June 30, 2023

Vicki P.

Free Consultation Danville, Pennsylvania 25 Yrs Experience Licensed in PA, WI Regent University School of Law

Vicki graduated from Regent University School of Law in Virginia Beach, Virginia in 1996. She is a licensed attorney. She has been admitted to Wisconsin since 1998 and Pennsylvania since 1999.

John V.

Attorney / Owner Free Consultation Member Since:
June 29, 2023

John V.

Attorney / Owner Free Consultation Boulder, CO 26 Yrs Experience Licensed in CO Syracuse University School of Law

Business, Real Estate, Tax, Estate Planning and Probate attorney with over 20 years experience in private practice in Colorado. Currently owner/operator of John M. Vaughan, Attorney at Law solo practitioner located in Boulder, CO. My practice focuses on transactional matters only.

Mark M.

Senior Attorney Free Consultation Member Since:
June 30, 2023

Mark M.

Senior Attorney Free Consultation 36 Yrs Experience Licensed in DC Georgetown University Law Center

I have 20-plus years of experience as a corporate general counsel, for public and private corporations, domestic and international. I have acted as corporate secretary for a publicly-held corporation and have substantial experience in corporate finance, M&A, corporate governance, incorporations, corporate maintenance, complex transactions, corporate termination and restructuring, as well as numerous aspects of regulatory and financial due diligence. In my various corporate roles, I have routinely drafted complex corporate contracts and deal-related documents such as stock purchase agreements, option and warrant agreements, MSAs, SOWs, term sheets, joint venture agreements, tender agreements purchase and sale agreements, technology licensing agreements, vendor agreements, service agreements, IP and technology security agreements, NDAs, etc. and have managed from both a legal and business perspective many projects in the financial, technology, energy and venture capital fields.