Deferred Agreement Sample With Retainer In Massachusetts

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

Description

The Deferred Agreement Sample with Retainer in Massachusetts serves as a contractual framework ensuring that an employee, a key figure within an organization, is compensated with post-retirement income in return for continued service until retirement. The agreement outlines the conditions under which the employee will receive additional payments from the employer, stipulating that such payments are dependent on the employee's continued employment and performance of duties. The form includes provisions for the payment structure, detailing monthly installments and consequences for any unauthorized concurrent employment. It also addresses the event of the employee's death, ensuring that a surviving spouse or the employee's estate receives the remaining balance due. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need to create binding agreements that reinforce employee retention strategies while complying with Massachusetts law. Key filling instructions include careful completion of names, dates, and payment amounts, with recommendations for both parties to retain copies for their records. Overall, the Deferred Agreement Sample with Retainer is an essential tool for managing deferred compensation and aligning employee interests with business goals.