Example: A classified employee works for 12 months, then signs a retention bonus contract. The employee must work another 12 months before he is paid the bonus.An executive retention bonus agreement is a contract between an employer and executive employee that provides the latter with a bonus for continued employment. An example retention bonus agreement to retain an employee during a merger or acquisition. Create a comprehensive employee bonus policy with this template. Ensure clarity and consistency in your company's bonus structure. It is entirely proper and appropriate to propose a retention bonus or agreement. That said, retention bonuses are a bit "tricky" to navigate. A key employee retention agreement, sometimes called a stay bonus agreement, is an employment contract between a company and its employee. Location: Massachusetts, U.S. This isn't for a new hire, but an existing employee.