Bonus Payback?
09-28-2018 | 05:10 AM
#13
Gets Weekends Off
Joined: Feb 2017
Posts: 533
Likes: 0
From: ERJ-170
I don't think this is correct.
My promissory note says 2 years from completion of IOE.
This is correct
The language in my agreement indicates you are liable for ...payments previously paid by ....
This makes me think you'd be liable for the full amount, it would come out even at the end of the next tax year as you would be able to amend the previous tax return, which would be a PITA. I think you would still be out the difference in the mean time.
But...things change very quickly, this is just what my agreements says and your mileage may vary....
My promissory note says 2 years from completion of IOE.
This is correct
This makes me think you'd be liable for the full amount, it would come out even at the end of the next tax year as you would be able to amend the previous tax return, which would be a PITA. I think you would still be out the difference in the mean time.
But...things change very quickly, this is just what my agreements says and your mileage may vary....
09-28-2018 | 06:28 AM
#14
Gets Weekends Off
Joined: Apr 2015
Posts: 121
Likes: 0
I don't think this is correct.
My promissory note says 2 years from completion of IOE.
This is correct
The language in my agreement indicates you are liable for ...payments previously paid by ....
This makes me think you'd be liable for the full amount, it would come out even at the end of the next tax year as you would be able to amend the previous tax return, which would be a PITA. I think you would still be out the difference in the mean time.
But...things change very quickly, this is just what my agreements says and your mileage may vary....
My promissory note says 2 years from completion of IOE.
This is correct
The language in my agreement indicates you are liable for ...payments previously paid by ....
This makes me think you'd be liable for the full amount, it would come out even at the end of the next tax year as you would be able to amend the previous tax return, which would be a PITA. I think you would still be out the difference in the mean time.
But...things change very quickly, this is just what my agreements says and your mileage may vary....
They sent me a letter outlining how much I’d received so far, and how much I was liable for repaying (all of it...no prorate before 1 year), and then how much to cut the check for <less than half>. It included a stipulation that if I didn’t pay by dec 31, I’d owe <increased amount> To cover taxes. By my reckoning, I kept about five thousand (before taxes), but... they’re happy I guess.
I also received everything in the same tax year, so I’d imagine that had something to do with it. Regardless: wait until they tell you, and how much. They’ve got accountants. I’m not an accountant. If it seems too much, raise a flag. If not...let it go.
10-02-2018 | 04:36 AM
#16
Gets Weekends Off
Joined: Feb 2017
Posts: 533
Likes: 0
From: ERJ-170
The way I understand it, according to my promissory note, this would go something like this...
Total Bonus $17,500.00
Bonus per month total div by 24 $729.17
Bonus for 6 months monthly X 6 $4,375.00
Amt of Bonus paid to you at 6 mos $1,500 + $8,500 = $10,000.00
Amount you'd have to return $10,000-$4,375 = $5,625.00
again, this is based on the assumption that your bonus structure would be the same, it might not be.
Total Bonus $17,500.00
Bonus per month total div by 24 $729.17
Bonus for 6 months monthly X 6 $4,375.00
Amt of Bonus paid to you at 6 mos $1,500 + $8,500 = $10,000.00
Amount you'd have to return $10,000-$4,375 = $5,625.00
again, this is based on the assumption that your bonus structure would be the same, it might not be.
10-02-2018 | 08:57 AM
#17
Line Holder
Joined: Oct 2010
Posts: 28
Likes: 0
haha that made me laugh. You know I was thinking the same thing ,how many creditors did republic screw over when they went into bankruptcy
I wish I could but honestly I think they would take legal action or at least report it to a collection agency. Ive read up on other airlines normally just "forget" about it but don't think thats the case with Republic.
10-04-2018 | 02:39 AM
#18
Line Holder
Joined: Nov 2016
Posts: 32
Likes: 0
From: E170 Fresh Meat
Yes because Suncountry puts you on the map. The standard is American, Delta, United, Southwest, UPS and FedEx. I’ll give a little love to JetBlue and Spirit. It’s supposed to be a job where you provide your services and the money flows from them to you. Just pay the salary and be done with it. These little deals and pay back agreements are nothing more than an embarrassment.
Last edited by Cobra Commander; 10-04-2018 at 02:40 AM. Reason: Speeling mistakes
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