Compensation Deal With In Washington
Category:
State:
Multi-State
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
The Short Form of Deferred Compensation Agreement is a vital document used in Washington to establish a deferred compensation arrangement between an employer and a key employee. This agreement highlights the employer's commitment to retain the employee until retirement by providing additional post-retirement income that exceeds the employee's regular pension. Key features include the payment terms, which specify a total compensation amount to be distributed in monthly installments, and a clause terminating payments if the employee engages in outside business activities without consent. In case of the employee's death, the remaining balance will be paid to the surviving spouse or estate. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear framework for structuring compensation arrangements that enhance employee retention. Users can fill out the form by providing necessary personal and organizational details while ensuring compliance with state laws regarding deferred compensation. It is a straightforward tool that facilitates both legal adherence and effective financial planning for employers and employees alike.
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