Contract Compensation For Breach In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
The Short Form of Deferred Compensation Agreement is designed for use between an employer and a key employee, establishing additional post-retirement income as a compensation incentive. This agreement stipulates terms under which the employee will receive a specified sum in equal monthly installments, contingent upon their continued employment and performance of duties. Notably, the compensation ceases if the employee engages in outside professional services without the employer's consent. Furthermore, in the event of the employee's death before full payment, the remaining balance is paid to the surviving spouse or the estate. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need to prepare documents that secure key employee retention and clarify the consequences of breach. It aids in ensuring compliance with employment law and can be easily filled out and modified as needed.
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