Payback Agreement: An agreement between an employer and an employee used primarily for relocated employees, stating that an employee will not voluntarily terminate his or her employment with the organization for a specified duration of time, effective from the date of relocation. Failure to abide by the terms of the agreement results in the employee being responsible for paying back a portion of any and all costs incurred by the employer on the employee’s behalf. Also used by employers that pay for expensive job-related or professional development training or educational courses.

 

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Payback Agreement: An agreement between an employer and an employee used primarily for relocated employees, stating that an employee will not voluntarily terminate his or her employment with the organization f . . . View Full Definition

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