Compensation Agreement Example In Florida

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

Description

The Short Form of Deferred Compensation Agreement serves as a crucial document in Florida for employers looking to provide key employees with post-retirement income, supplementing their regular pension plans. This agreement outlines the terms under which an employee will receive additional compensation, contingent upon their continued employment until a specified retirement date. Key features include a clear payment structure detailing the sum to be paid in equal monthly installments, the procedure for payment in case of the employee's death, and a clause preventing the employee from providing services to other entities without the employer's consent. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it ensures compliance with employment laws while securing the employer's interest in retaining talented personnel. Filling out this form requires careful input of personal and corporate details, along with the complete terms of compensation, ensuring all parties understand their obligations. Editing should focus on confirming the specific amounts, dates, and relevant positions before final signatures. Overall, this document facilitates clear communication between the employer and employee regarding deferred compensation arrangements.