David Sirota should take a look at a sample retention bonus contract because I do think he has the first clue what one is. Apparently, it is impossible for Mr. Sirota to understand the concepts of deferred or lump-sum compensation, or even of the utility and need for retention bonuses in the first place.
What’s most remarkable is his concept that people that sign contracts to do a defined amount of work have not ‘earned’ the money if they actually fulfill their end of the contract. That’s an amazing lack of imagination if you ask me. And then there is his excuse for this sloppy thinking, which is his assertion that the recipients of these bonuses are actually the same people that lost billions of dollars that we, the taxpayers, have to make whole. The problem is, in the vast majority of cases, that isn’t even true. They’re not the people that lost billions, but mere bystanders.
Look, I don’t even care that a bunch of rich people lost their money. We have bigger problems. But to get indignant that someone would suggest there is nothing wrong with expecting to get paid what you were promised? I do work for you and you refuse to pay me? Well…that ain’t gonna go over too well with me.
