Deferred Compensation Plan For Executives In Virginia
Category:
State:
Multi-State
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
Description
The Deferred Compensation Agreement for executives in Virginia outlines a financial arrangement between a corporation and an employee aimed at providing post-retirement income or death benefits beyond standard pension plans. It specifies monthly payment amounts contingent on the retirement age and includes provisions for benefits in case of the employee's death either before or after retirement. Key features include a multiplier based on the National Consumer Price Index, termination conditions under which benefits cease, and a non-competition clause to protect corporate interests. The agreement also mandates arbitration for disputes and stipulates governing laws. This form proves essential for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in employment agreements, ensuring compliance with Virginia laws and providing structured compensation solutions for executives. Proper filling requires accurate details about the corporation and employee, while editing allows customization of terms to fit specific corporate needs.
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