Compensation Plan For Employees In Ohio
Category:
State:
Multi-State
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
The Short Form of Deferred Compensation Agreement outlines a compensation plan for employees in Ohio, allowing employers to provide additional financial incentives to key employees as they approach retirement. Key features include the provision for post-retirement income that exceeds regular pension benefits and stipulations for the continuation of payments contingent upon the employee's employment and service status. Filling instructions emphasize the importance of detailing the employer and employee's names, positions, payment amounts, and timelines. The agreement also includes a clause regarding the termination of benefits should the employee engage in unauthorized work. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in employment agreements, as it helps to formally establish compensation plans and retirement incentives, ensuring legal compliance and clear expectations for all parties involved.
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