Feel free to copy and customize this free employee retention letter example to craft your own employee retention bonus letter template. Under an OPM retention incentive waiver, agencies could approve a retention incentive of up to 50 percent of an employee's rate of basic pay based on a critical." Emphasize the Employee's Value. I am writing to inform you that, in appreciation for your continued support of Alexza Pharmaceuticals, the company is offering you a retention bonus. An employee retention agreement is a contract between an employer and an employer for the purposes of enticing the employee to continue working for the company. A key employee retention agreement, sometimes called a stay bonus agreement, is an employment contract between a company and its employee. Read more about that here. Employees under a current service obligation (e.g. , Recruitment, Relocation or.