The Compensation Agreement Form 159d in Washington is a legal document designed to establish a deferred compensation arrangement between an employer and a key employee. This form is essential for employers wishing to incentivize key employees to remain with the company until retirement by providing post-retirement income beyond the standard pension plan. To fill out this form, users must include information such as the names of the employer and employee, positions held, compensation amounts, and payment schedules. Key features include a clear structure for installment payments and contingencies regarding employment status and dual service provisions. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who manage employment compensation documents, ensure compliance with regulations, and provide advice on employment incentives. Proper editing can enhance clarity and specificity, particularly in detailing compensation terms and obligations. It's important for users to understand the implications of contract clauses before presenting or finalizing the agreement.