Compensation Agreement For In Washington

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

Description

The Short Form of Deferred Compensation Agreement is designed to outline the terms under which an employee can receive additional compensation upon retirement in Washington. This form is beneficial for employers who want to incentivize key employees to remain with the company until retirement. Key features include the establishment of a payment schedule, specifying monthly installments, and conditions that may lead to termination of the employee's rights to compensation. It also addresses provisions for disbursement upon the employee's death, ensuring compensation is paid to a surviving spouse or the employee's estate. Filling instructions require clear identification of the employer and employee, along with details of the compensation terms, such as amounts and payment intervals. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form useful for drafting legally binding agreements that secure employee loyalty while managing potential liabilities. As such, this form assists in maintaining clear expectations between employers and employees regarding deferred compensation arrangements.