Deferred Compensation Plan For Non-employee Directors In Washington
Category:
State:
Multi-State
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Plan for Non-Employee Directors in Washington is designed to provide financial benefits to non-employee directors upon retirement or in the event of death. This agreement outlines the payments made by the corporation to ensure a post-retirement income that exceeds the standard pension plans. Key features include provisions for survivor benefits, adjustment of payments based on the National Consumer Price Index, and stipulations surrounding noncompetition and termination of employment. Additionally, the plan emphasizes the importance of binding arbitration for any disputes and clarifies that all modifications must be documented and signed. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to structure compensation packages, ensure legal compliance, and protect both the corporation and the individual's interests. This form is beneficial for legal professionals involved in drafting agreements that uphold the financial stability of non-employee directors while navigating regulatory requirements.
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