Deferred Compensation Plan For Non-employee Directors In Collin
Category:
State:
Multi-State
County:
Collin
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Plan for Non-Employee Directors in Collin serves as a formal agreement to provide additional financial security to key individuals who contribute to a corporation's success. This plan is designed to ensure payments to non-employee directors after retirement, offering either retirement benefits or survivor benefits to designated beneficiaries in the event of death prior to or following retirement. Key features of the form include structured monthly payments, a provision for a cost-of-living multiplier based on the National Consumer Price Index, and strict terms regarding non-competition and assignment of rights. Filling out the form requires accurate information regarding the corporation, the director, and the specific financial arrangements agreed upon. Users should ensure all conditions are clearly outlined, including potential modifications and the inclusion of an arbitration clause for dispute resolution. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in corporate governance, as it helps define the financial relationship between the corporation and its directors while ensuring compliance with applicable laws.
Free preview
