Short Form of Deferred Compensation Agreement
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Short Form of Deferred Compensation Agreement Powered By Docstoc
					                 Short Form of Deferred Compensation Agreement

This Agreement is made this the (date), between (Name of Employer), a corporation
organized and existing under the laws of the state of (name of state), with its principal
office located at (street address, city, state, zip code), referred to herein as Employer,
and (Name of Employee) of (street address, city, state, zip code), referred to herein as

WHEREAS, Employee is a key employee of Employer and now serves as Employer’s
(Name of Office or Position); and

WHEREAS, Employer wishes to retain the services of Employee until Employee’s
retirement and wishes to encourage Employee to remain with Employer until retirement;

WHEREAS, Employer wants to therefore provide Employee, as additional compensation
for services by Employee to Employer, a post-retirement income over and above what
will be available to Employee under Employer’s regular pension plan for Employees;

NOW, THEREFORE, in consideration of the terms and covenants of this Agreement, and
other good and valuable consideration, the parties agree as follows:

1.     If Employee remains in the employ of Employer until the (date), and performs all
of the duties and obligations of Employee to be performed in his c
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.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),