Deferred Compensation Plan For Small Business In Broward
Category:
State:
Multi-State
County:
Broward
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Agreement between Employer and Employee is designed for small businesses in Broward, allowing corporations to provide deferred income benefits to key employees. It includes provisions for retirement benefits, death benefits for both post-retirement and pre-retirement scenarios, and establishes a payment structure based on the National Consumer Price Index. Key features include stipulations on termination of employment, noncompetition clauses, and conditions surrounding the encumbrance of benefits. The agreement emphasizes the need for mutual consent in modifications and assignments of rights. Filling out the form requires clear input of dates, payment amounts, and the names of parties involved. It is particularly useful for attorneys, partners, and owners looking to retain key employees while providing them with additional financial security. Additionally, paralegals and legal assistants can utilize the form to understand the legal expectations and obligations set forth in such agreements, ensuring comprehensive support during its preparation.
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