Deferred Compensation Plan For Executives In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Plan for executives in Franklin is a formal agreement between the employer and employee designed to provide additional income to key employees post-retirement or death. It addresses key features such as structured monthly payments contingent on retirement age, and conditions related to death before and after retirement, ensuring financial security for the employee and their beneficiaries. The plan includes a multiplier based on the National Consumer Price Index to accommodate inflation. It explicitly prohibits competition during the payment period, safeguarding the employer's interests. The form outlines clear termination conditions and explains the rules regarding notices, mandatory arbitration, and the governing law. This agreement is essential for attorneys, partners, and business owners who aim to attract and retain top talent by offering a comprehensive deferred compensation strategy. Additionally, associates, paralegals, and legal assistants will find it useful for managing documentation and ensuring compliance while navigating such agreements.
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