SDCL § 13-43-62: Signing bonus––Payment.

A payment authorized in § 13-43-61 may be paid:

(1) In one lump sum, upon completion of the staff member's first year of employment in the school district; or

(2) In installments, over a period not to exceed three years from the date the staff member signed a contract of employment with the school district, and upon the terms and conditions mutually agreed upon by the school district and the staff member.