a clause in an employment contract that binds employees to the employer for a certain period of time after the employer has invested in training. Employees are free to move to another company but may be requested to reimburse the cost of the training, or part of the cost.
Payback clauses may encourage companies to invest in training.
a clause in an employment contract that says how money lent to an employee must be paid back to the employer
It is normal company practice to include a repayment clause for any lump-sum payments.
a contract clause that says how money borrowed must be paid back
Under the repayment clause, the final payment had to be paid back within one year of the loan being granted.