Contract With Compensation In Los Angeles

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

Description

The Short Form of Deferred Compensation Agreement is a legal document designed for use in Los Angeles that outlines the terms under which an employer agrees to provide additional compensation to an employee who remains with the company until retirement. This agreement specifies the conditions under which the employee will receive a specified sum of money in monthly installments and addresses scenarios such as the employee’s death before full payment is completed. Key features include outlines of payment amounts, timelines, and obligations of both parties. Filling out the form requires clear identification of the employer and employee, with specific details about the position held by the employee and the payment structure. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants when drafting agreements that secure employee retention and incentivize long-term commitment. It allows for straightforward personalization while ensuring compliance with general legal standards. Users should carefully review the obligations outlined in the agreement to avoid disputes regarding post-retirement compensation.