Deferred Compensation Plan For Highly Compensated Employees In Hennepin
Category:
State:
Multi-State
County:
Hennepin
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Plan for Highly Compensated Employees in Hennepin is designed to provide additional retirement benefits for key employees of a corporation. It outlines an agreement between a corporation and an employee, detailing payments to be made upon retirement or in the event of the employee's death. Key features include monthly payments determined by an inflation-adjusted multiplier, conditions under which payments may cease, and stipulations regarding noncompetition and encumbrances. Filling and editing instructions emphasize that both parties must agree on the terms, including the amount and duration of payments. This form is crucial for attorneys, partners, and business owners aiming to structure beneficial compensation packages for top talent, while also ensuring legal compliance. Associates, paralegals, and legal assistants can utilize this form to aid in document preparation and client advisement on retirement benefits, making it a vital tool for professionals involved in employment agreements and corporate benefits planning.
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