Deferred Compensation Agreement Template For Independent Contractors In Orange
Category:
State:
Multi-State
County:
Orange
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
Workers' Compensation​​ Client shall not obtain workers' compensation insurance on behalf of Contractor or Contractor's employees. Yes, the employer could allow independent contractors to participate in a 457b plan, but they are not required to do so.The purpose of the Plan is to encourage Eligible Individuals to make and continue careers with Orange. A deferred compensation agreement is an agreement between a company and an employee that withholds paying some of the employee's salary.