Fill and Sign the Deferred Compensation Agreement Template Form

Short Form of Deferred Compensation Agreement This Agreement is made this the       day of       , 20       , between       , a corporation organized and existing under the laws of the (Name of Employer) state of       , with its principal office located at       , (Name of State) (Street Address)       , referred to herein as Employer, and (City, County, State, Zip Code)       of       , referred to (Name of Employee) (Street Address, City, County, State, Zip Code) herein as Employee. WHEREAS, Employee is a key employee of Employer and now serves as Employer’s       ; and (Name of Office or Position) 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 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       day of       , 20       , and performs all of the duties and obligations of Employee to be performed in his capacity as       , Employee shall receive from (Name of Office or Position) Employer, as additional compensation, the sum of $       , payable in       equal (Number) monthly installments of $       on first day of each month beginning the       day of       , 20       , and continuing until such sum has been paid in full, provided that Employee’s right to such sum shall immediately terminate if Employee renders any service of a business, commercial, or professional nature to any other person, firm, corporation, or other entity without Employer’s prior, express, and written consent, regardless of whether such services be rendered directly or indirectly with or without compensation. 2. In the event of Employee’s death before such sum has been fully paid, Employer shall pay the entire remaining balance in a lump sum to the surviving spouse of Employee or, if Employee has no spouse surviving, to Employee’s estate. Short Form of Deferred Compensation Agreement Page 1 of 2 WITNESS our signatures the day and year first written above.       (Name of Employer) By: By: (Signature of Employee) (Signature of Officer)             (P rinted Name of Employee) (P rinted Name & Office in Corporation) Short Form of Deferred Compensation Agreement Page 2 of 2