Compensation Agreement For In Florida
Category:
State:
Multi-State
Control #:
US-00417BG
Format:
Word;
Rich Text
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Description
Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a date after which the income is actually earned. A Deferred Compensation Agreement is a contractual agreement in which an employee (or independent contractor) agrees to be paid in a future year for services rendered. Deferred compensation payments generally commence upon termination of employment (e.g., retirement) or death or disability before retirement. These agreements are often geared toward anticipated retirement in order to provide cash payments to the retiree and to defer taxation to a year when the recipient is in a lower bracket. Although the employer's contractual obligation to pay the deferred compensation is typically unsecured, the obligation still constitutes a contractual promise.
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The Compensation Agreement can be executed prior to the offer for Purchase and Sale between the Buyer and Seller. Florida Realtors has released four new forms — two compensation agreements and modification forms, for each compensation agreement.This is the agreement for when the seller is just going to compensate the buyer's broker directly. Florida Realtors has released four new forms two compensation agreements and modification forms, for each compensation agreement.