Compensation Deal With In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
The Short Form of Deferred Compensation Agreement is a legal document designed to outline the terms of additional compensation provided to a key employee of a corporation. This agreement aims to retain the employee until retirement and offer post-retirement income beyond the standard pension plan. Key features include the establishment of a payment schedule, detailing monthly installments and the conditions under which payments may cease, such as the employee providing services to other entities without consent. In the event of the employee's death before full payment, the remaining balance is to be paid to the surviving spouse or the employee's estate. The document is essential for ensuring clarity on compensation terms and obligations for both employers and employees. Attorneys, partners, owners, associates, paralegals, and legal assistants can effectively utilize this form to structure deferred compensation arrangements, ensuring legal compliance while protecting the interests of both parties involved.
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