Compensation Agreement Meaning In Phoenix
Category:
State:
Multi-State
City:
Phoenix
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
Which period does this compensation cover? The settlement covers damages for the following four fiscal years: 2016-17, 2017-18, 2018-19 and 2019-20.All independent contractor agreements must clearly state that the person doing the job is an independent contractor and not an employee. DEFINED CONTRIBUTION PLAN . 401(a). Specifically, this article will discuss the new Seller Compensation Addendum (SCA).