Puri: A $1M upfront bonus with clawback prevented him from leaving early
Shaan Puri · How Roger Federer Became The First Tennis Billionaire (#367) · Sep 27, 2022 · at 10:47
Shaan Puri recounts an acquisition or employment deal where receiving a $1 million signing bonus upfront with clawback terms stopped him from leaving before one year.
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“I did a deal once where we got a million dollar signing bonus, but it was contingent that if we left before a year then we wouldn't get the million dollars, and I would, personally, I wouldn't get the million dollars if I left before a year, and I think if you had just told me, hey, do you want to stay for a year to get this million dollars, I would have been like, well, you know, that sounds good, But there's other opportunities. Maybe I could do it this other way, but once they just put the money in my account, they're like, that's there now. Go look at that. Okay, cool. If you leave early, you have to pay all that back. And I was like, oh man, I gotta pay back a million dollars. And it just felt even my brain knew exactly what was going on. I was like, I just don't want to pay back a million dollars. That sounds like that would be horrible. I'm just, I'm definitely not doing that. I'm not losing a million.”
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