Deferred Compensation Plan For Executives In Hennepin
Category:
State:
Multi-State
County:
Hennepin
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Agreement serves as a formal contract between an employer and an executive to secure additional retirement benefits. This agreement outlines the terms for monthly payments to be made to the employee post-retirement, tailored to ensure financial security beyond regular pension plans. Notably, it includes provisions for death benefits, payment multipliers based on the National Consumer Price Index, and conditions under which payments are terminated due to non-compliance or competitive employment. The form requires clear personalization with the corporation's and employee's details, while also mandating adherence to state laws. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in corporate governance and employee compensation planning. These professionals can utilize the form to ensure that deferred compensation arrangements are structured effectively, compliance with legal requirements is maintained, and the interests of both the corporation and the executive are protected.
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