Deferred Agreement Sample With The Council In San Bernardino
Category:
State:
Multi-State
County:
San Bernardino
Control #:
US-00417BG
Format:
Word;
Rich Text
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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.
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The DIF Deferral Agreement shall contain a legal description of the property affected and shall be recorded in the San Bernardino County. Each of the parties shall execute forthwith all of the documents necessary to carry out the terms of this agreement.00 per loan shall be due and payable upon sale of property. Pursuant to Section 3500 et seq. San Bernardino County, the largest County in the contiguous United States, spans 22,000 square miles.