Deferred Compensation Examples In Georgia
Category:
State:
Multi-State
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
The Short Form of Deferred Compensation Agreement is a legal document designed for employers in Georgia to outline compensation plans for key employees. It aims to retain valuable employees until retirement by providing additional post-retirement income beyond standard pension plans. This form requires basic information such as the names and addresses of the employer and employee, along with terms for compensation, including payment amounts and schedules. Key features include a stipulation that the employee must not engage in outside services without written consent from the employer, or otherwise forfeit their compensation rights. In case of the employee's death, the remaining balance of the compensation is payable to the surviving spouse or the estate. This document is useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need to draft or review employment agreements that include deferred compensation clauses, ensuring compliance and clarity in employer-employee agreements. Filling out and editing the form involves careful attention to detail, ensuring all relevant facts and signatures are accurately recorded.
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