Compensation Agreement Meaning In Massachusetts
Category:
State:
Multi-State
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
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.
Free preview
Form popularity
More info
Buyer agreements contain private information and business practices, similar to listing agreements. A lump sum settlement is an agreement between the injured worker and the workers' compensation insurance company to redeem any liability for compensation.We turn to contract law for the answer. Commission claims are essentially contract claims with liquidated (trebled) damages attached to them.