Free Training Repayment Agreement Template
Training Repayment Agreement
1. Purpose
This Training Repayment Agreement ("Agreement") is entered into between [Your Company Name], a company organized and existing under the laws of California, USA, having its principal place of business at [Your Company Address] (hereinafter referred to as "Employer"), and Jordan Taylor, an individual residing at 456 Evergreen Terrace, San Mateo, CA 94401 (hereinafter referred to as "Employee"). The purpose of this Agreement is to outline the terms under which the Employee shall be obligated to repay the Employer for certain training expenses should the Employee leave the Employer's employment under certain conditions.
2. Training Details
2.1 Training Program
The Employee will attend the following training program(s):
"Advanced AI Development & Deployment Certification" provided by the Institute for Futuristic Learning.
The training program is scheduled to commence on January 15, 2050, and conclude on March 15, 2050.
2.2 Training Costs
The total cost of the training program, which includes tuition, materials, travel, and lodging expenses, is estimated to be $15,000. The Employer agrees to cover these expenses under the terms specified in this Agreement.
3. Repayment Obligations
3.1 Repayment Conditions
The Employee agrees to repay the Employer for the training costs under the following conditions:
-
If the Employee voluntarily terminates employment with the Employer within 24 months of completing the training program.
-
If the Employee is terminated for cause within 24 months of completing the training program.
3.2 Repayment Amount
The repayment amount shall be calculated on a prorated basis depending on the duration of continued employment following the completion of the training. A detailed proration schedule is outlined in Exhibit A.
4. Term and Termination
This Agreement shall remain in effect for 24 months following the completion of the training program. The obligations of the Employee to repay the training costs shall survive the termination of this Agreement.
5. General Provisions
5.1 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
5.2 Entire Agreement
This Agreement constitutes the entire agreement between the Employer and Employee concerning the subject matter herein and supersedes all prior agreements and understandings, whether written or oral.
Exhibit A: Proration Schedule
|
Duration of Continued Employment Post-Training |
Repayment Percentage of Total Cost |
|---|---|
|
0 - 6 months |
100% |
|
7 - 12 months |
75% |
|
13 - 18 months |
50% |
|
19 - 24 months |
25% |
|
Beyond 24 months |
0% |
By signing below, the parties agree to the terms and conditions of this Agreement.
Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date signed by both parties below.
Employer:
[Your Name]
[Your Email]
[Date]
Employee:
Jordan Taylor
[Date]
