Agreement For Salary Deduction In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
The Agreement for salary deduction in Clark is a legal document designed to structure a deferred compensation plan between an employer and a key employee. This agreement outlines the terms under which an employee, who occupies a significant position within the company, will receive additional compensation upon their retirement. Key features include a stipulation for monthly payments that commence after a specified date, contingent on the employee's continued service until retirement. It also includes provisions regarding termination of payment rights if the employee engages in external work without the employer's consent. In case of the employee's death prior to full payment, the remaining balance will be paid to the surviving spouse or the estate. This form is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants involved in employee compensation planning. It serves as a clear guide for drafting deferred compensation agreements that comply with legal standards and assist in retaining valuable employees. The form emphasizes straightforward filling and can be easily modified to reflect specific company policies or individual arrangements.
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