I had to sign a clawback term today stating I will return my cash bonus if i leave the company, literally was waiting on my bonus to quit
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fiserv stock is up so shut up and stop whining. We are making it rain over here, breh.
I quit in 2023 and had to pay mine back. After receiving a Far Exceeds Expectations, too! I also left a ton of unvested stock on the table which I knew I would lose but asking someone to pay back a measly cash bonus for work performed in the past is nutty and unethical. So glad I left...30K salary increase made up for the bonus AND the lost stock in 2 years. And the culture change at my new place is invaluable.
Is this even legal to have a clawback on year-end bonus?
Not sure about the legality, but it’s not a bonus - it’s an “Incentive” to stay. That may swing the legality.
Also applicable if the associate is fired or laid off?
The wording I heard was “if you leave voluntarily”, but being fired probably has minimal rights.
Is this even legal to have a clawback on year-end bonus?
Also applicable if the associate is fired or laid off?
30% Cash (with clawback clause)
70% Shares
Did the splits from cash and equity change from last year?
Let me clarify my post please.
"Is $1200 cash that you end up getting really worth it?? Nope. You're going to lose the fake stock anyway! I was ripped off of 60+ "unvested" shares when I was layed off in Nov. after 26+ years of service! Forget it even exists and move on..."
IF bonus eligible - for example - Grade 10 (and down to certain # of grades below that) can get a bonus of $5K. This # does not include all divisions/groups. Out of that, the cash portion is about $2200 with the rest being fake stock that vests over 3 years from the date "awarded". Lets just call it "allocated" for the future (eye roll). The $2200 cash after all deductions ends up being about $1200. That is where I get the number from. I know this pretty well since I got it for mostly every year it was available for the 26+ years I was there... until Nov. 2024. $5k is a dangling carrot because the reality is around $1200 at best. I sold my stock asap every year because I was afraid of somehow losing it if I didn't... Like I did with the 60+ "unvested" shares stole from me when layed off. This company is FULL of bait and switch, Falsehoods, Misdirects, Open-ended interpretations - that are all designed to be used against you and to the company's advantage.
So my question was... is it worth hanging around for? NOPE! Just forget it exists and move on with your life/career.
only for directors and above.
us ditch diggers will get to keep our scraps.
I thought Managers were around 10% and Directors 15% bonuses? $1200 is horrible for either.
I would be embarrassed to be at a director level at a Fortune 500 company that only gets a 1200 dollar bonus that is not fully vested. Directors and VP’s don’t you want more for yourself? This has got to be the biggest hunk of dogshit company I have ever laid my eyes on.
If I’m not mistaken you would have had to sign this clause in 2024 for them to clawback the bonus given in 2025 as it’s based on 2024 work.
You must be director level or higher. They instituted that a year or so ago and it’s most likely not $1,200 mentioned below. Cr-ppy practice to treat cash payouts with a vesting period
Congratulations! You can leave today!
It is prorated
Is $1200 cash that you end up getting really worth it?? Nope. You're going to lose the fake stock anyway! I was ripped off of 60+ "unvested" shares when I was layed off in Nov. after 26+ years of service! Forget it even exists and move on...
Pay back the entire bonus or just the cash portion? I'm trying to figure out how that works the for the stock portion that's not vested for 3 years.
2 years clawback and yeah if i didn’t sign i wouldn’t get it
LOL It looks like it's time to move into a better company!
Were you asked to sign it in exchange for your bonus?
Wow that’s crazy. How long is the clawback term?