An employee may receive a maximum education benefit of $5,250 per year. The employee does not need to report any allowable education benefit up to $5,250 on their tax return.
The employee may not use any received education benefit for tax-deduction purposes. However, any amount the employee pays from their own funds over the $5,250 amount may be eligible to be reported for tax-deduction purposes. Employees may consult a tax professional or the Internal Revenue Service to determine the proper procedure for reporting their education expenses.
If an employee voluntarily terminates employment before completing the course, they will be required to repay the entire portion of the benefit.
If an employee voluntarily terminates employment after completion of the course prior to completing (1) year of active employment, the employee will refund the entire amount of the educational benefit provided.
After (1) year of employment from the completion of the last course taken, there is no repayment required for voluntary termination of employment.
If any action is brought to enforce any provision of this agreement by Garden Remedies, Inc., you agree to pay all costs associated with the action as well as any costs of litigation, including all reasonable attorney fees.
This educational expense agreement creates no contract of employment between you and Garden Remedies, Inc. You may terminate your employment with this company at any time with or without cause, and Garden Remedies, Inc. may terminate your employment at any time with or without cause.