Deferred Compensation Plan For Non-employee Directors In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Plan for Non-Employee Directors in Travis is a formal agreement between a corporation and its non-employee directors that outlines the terms of compensation to be provided post-retirement or upon specific events like death. This plan allows directors to receive monthly payments after retirement, which may be adjusted according to a consumer price index to maintain value over time. Key features include provisions for death benefits, a non-competition clause, and stipulations on termination of payment obligations under certain conditions. Filling instructions emphasize accuracy in designating beneficiaries and the importance of adhering to terms related to employment and compensation. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in corporate governance and compliance, as it helps ensure that compensation arrangements are legally sound and beneficial for both the corporation and its directors. Additionally, it provides a structure for addressing potential disputes through mandatory arbitration and outlines the legal framework governing the agreement.
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