Deferred Compensation Plan In Retirement In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Agreement establishes a financial arrangement between an employer and an employee regarding post-retirement income. This agreement is particularly beneficial for employees who have served a significant period within the corporation and wish to secure additional income upon retirement. It outlines the payment amount after retirement, options for beneficiaries in case of death post-retirement, and provisions if the employee passes away before retirement. A unique feature is the multiplier calculation based on the National Consumer Price Index, ensuring payments adjust with inflation. The document also specifies conditions for termination of payments, including non-competition clauses that the employee must adhere to. It includes severability, governing law, mandatory arbitration, and requirements for modifications to ensure clarity and enforceability. For attorneys, partners, owners, associates, paralegals, and legal assistants, this form serves as a crucial tool to provide a structured and legally sound approach to retirement benefits, safeguarding the interests of both the employer and the employee.
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