Contract Compensation For Breach In Alameda

• Category: Employment - Compensation
• State: Multi-State
• County: Alameda
• Control #: US-00417BG
• Format: Word; Rich Text

Description

The Short Form of Deferred Compensation Agreement is designed to outline the terms of deferred compensation between an employer and employee in Alameda. This form ensures that a key employee is incentivized to remain with the employer until retirement by providing additional compensation after retirement, supplementing existing pension benefits. Users need to fill in details such as the names and addresses of both parties, the position of the employee, and compensation amounts to customize the agreement. Key features include payment terms, which specify the total sum payable in monthly installments, and conditions under which these payments could terminate, particularly if the employee provides services to others without consent. In the event of the employee's death before full payment, a lump sum is due to the surviving spouse or the estate. This form serves various users in the legal field: attorneys can assist clients in drafting these agreements; partners and owners can ensure their agreements are compliant and meet strategic business needs; associates and paralegals can facilitate document preparation; while legal assistants can help in gathering necessary information and maintaining records.