Carolina Pintos Therapy, PLLC
11777 Katy Freeway, Suite 260 South, Houston, TX 77079
5 Grogans Park, Suite 107, Spring, TX 77380
This Retention and Conversion Bonus Agreement (this “Agreement”) is entered into between Carolina Pintos Therapy, PLLC (the “Company”) and the individual who signs below (“You”), effective as of the date of Your signature. It sets the terms of a one-time bonus offered in connection with Your service to the Company.
- Bonus. The Company offers You a one-time bonus of $2,000 (the “Bonus”), subject to the conditions in Section 2. The Bonus is an incentive for continued service and conversion to employment; it is not earned at signing, at engagement start, or at any time before all conditions in Section 2 are satisfied.
- Conditions to Earning the Bonus. The Bonus is earned only if, and on the date that, all of the following are true: (a) You have completed twelve (12) consecutive months of continuous service to the Company, measured from Your Engagement Start Date (as defined in the Services Agreement or, if none, Your first date of service), combining any period as an independent contractor and any period as a W-2 employee; (b) before completing that twelve-month period, Your status has converted to W-2 employment with the Company; and (c) You are actively employed by the Company in good standing on the date the twelve-month period is completed (the “Earn Date”). If any condition is not satisfied — including if Your service ends for any reason before the Earn Date, or if You have not converted to W-2 employment by the Earn Date — the Bonus is not earned and is not payable, in whole or in part.
- Payment. If earned, the Bonus will be paid in a lump sum through the Company’s regular payroll within thirty (30) days after the Earn Date, less all applicable taxes and withholdings.
- No Guarantee of Conversion or Continued Service. Nothing in this Agreement guarantees conversion to employment, continued engagement or employment for any period, or alters the nature of Your relationship with the Company. Conversion to W-2 employment remains at the Company’s discretion based on performance and business needs. If You are an employee, Your employment remains at-will.
- One-Time Incentive. The Bonus is a one-time incentive. It is not part of Your base compensation, fees, or wages for services, does not recur, and does not modify any other agreement between You and the Company.
- Governing Law; Venue. This Agreement is governed by the laws of the State of Texas, with venue in Harris County, Texas. It is the entire agreement regarding the Bonus, may be amended only in writing, and may be signed electronically.
ACCEPTANCE
By signing below, You acknowledge that You have read and understand this Agreement, including that the Bonus is earned only upon satisfaction of all conditions in Section 2, and agree to its terms.