FOLIO Ontology

A Retention Related Agreement is a legally binding contract between an employer and an employee, often a key or high-value employee, with the aim of retaining the employee within the company for a specified period. This type of agreement typically includes provisions for financial incentives, such as bonuses or stock options, and may also outline conditions or obligations the employee must meet to receive these incentives. The primary goal is to encourage employee loyalty and discourage them from leaving the organization during a critical period.