Long Form Deferred Compensation Agreement

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					                     Long Form Deferred Compensation Agreement

This Agreement is made this the (date), between (Name if 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), hereafter referred to as Employee.

WHEREAS, Employee is a key employee of Employer and now serves as Employer’s (name of
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; and

WHEREAS, Employer wants to therefore provide Employee, as additional compensation for
services to Employee, with 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 receipt of which is acknowledged, the parties agree as
follows:

1. On Employee’s retirement at the age of 65 or above, or on Employee’s earlier retirement
due to sickness or other disability, or on Employee’s early retirement with the consent of
Employer, Employer will pay to Employee the sum of the sum of $__________, payable in sixty
(60) equal monthly installments of $__________, on first day of each month beginning the
_____ day of __________, 20_____, and continuing until such sum has been paid in full, and
multiplied by the fraction set forth in Paragraph 4 of this Agreement.

2. In the event Employee dies subsequent to his retirement under the conditions set forth in
Section 1, Employer will pay the remaining unpaid amount called for in Section 1 to such
person or persons named by Employee in a written document filed by him with Employer before
his death, or in absence of such designation, to Employee’s estate.

3. If Employee dies while still employed by Employer, Employer will pay the sum of
$___________ per month (multiplied by the fraction set forth in Paragraph 4 of this Agreement)
for (number) months following Employee’s death to such person or persons designated by
Employee in a written document filed by him with Employer before his death, or in absence of
such designation, to Employee’s estate.

4. Each monthly payment by Employer set forth in Paragraphs 1, 2, and 3 of this Agreement
shall be multiplied by a fraction, the numerator of which shall be the monthly National Consumer
Price Index that was issued by the United States Department of Labor for the most recent
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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),