Compensation Agreement Form 159d In Ohio

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

Description

The Compensation Agreement Form 159d in Ohio serves as a binding contract between an employer and an employee, typically a key employee, detailing agreed-upon deferred compensation to encourage retention until retirement. This form outlines key features such as the amount of compensation, the payment schedule, and conditions that could terminate the employee's right to payments, such as engaging in outside services without consent. It also addresses circumstances like the employee’s death, ensuring that remaining compensation is paid to the surviving spouse or estate. Filling out this form requires clear identification of the employer, employee, and compensation amounts, making it essential for attorneys, partners, and payroll departments to ensure compliance and accuracy. For paralegals and legal assistants, familiarity with this form can streamline the contract creation process, while ensuring that all legal stipulations are met. Overall, this form serves as a valuable tool in employee retention strategies and should be utilized carefully by all legal professionals involved in employment agreements.