Deferred Compensation Form For Executives In Hennepin
Category:
State:
Multi-State
County:
Hennepin
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Form for Executives in Hennepin serves as a contractual agreement between an employer and an employee, specifically designed for key executives. This form aims to provide supplemental retirement income to the employee, encouraging long-term affiliation with the employer. It includes provisions for the payment arrangement, stipulating the monthly installments and conditions under which the compensation is maintained or terminated. Filling instructions entail specifying names, addresses, positions, and the financial amount, ensuring clear documentation of both parties' commitments. The form highlights that payment obligations cease if the employee engages in outside work without permission, which protects the employer's interests. In the unfortunate event of the employee's death, provisions are made for the remaining balance to be paid to the surviving spouse or the estate. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it outlines key legal elements required to secure deferred compensation arrangements while providing a framework for enforceability and compliance with relevant laws.
Free preview
