Deferred Compensation Agreement Template With Example In Georgia
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State:
Multi-State
Control #:
US-00417BG
Format:
Word;
Rich Text
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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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Administration of the Plan or in the full and complete discharge of liabilities to any and all. Participants or Beneficiaries thereunder. (b).A deferred compensation agreement is an agreement between a company and an employee that withholds paying some of the employee's salary. The Participant or Beneficiary, after the. Upon award of the contract, the selected firm must be duly qualified to provide the deferred compensation plan services in the State of Georgia.