The compensation plan agreement is a binding contract made between two parties, one of whom is the company or organization and the other is the employee of the organization. Most common compensation plan agreements are known as deferred compensation plans.
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Sample compensation plan agreement
Compensation Plan Agreement
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This agreement is made between Company and Employee on the effective date of 18th November, 2011.
Company represented by
Ms. Susie Bowman
Stone Media
Address: 6332 Quillan Street, San Diego CA 92111
Contact number: (858) 560-5050
Bank represented by:
Ms. Tania Hankova
Address: 1552 Catalina Boulevard, San Diego CA 92107
Contact number: (858) 536-5404
Terms and Conditions:
- This Compensation Plan Agreement will be known as the “Stone Media Deferred Compensation Plan” and will be referred to as simply the “plan” hereinafter. The intention of this plan agreement is to enable the deferment of payment of the following: (a) awarding incentive compensation under Stone Media annual incentive plan (b) base salary, and (c) signing bonus for new employees.
- The compensation committee at “Stone Media” will have complete authority and power to interpret, construe, initiate, and administer the Compensation Plan Agreement.
- The compensation committee at “Stone Media” will be responsible for making decisions related to the matters affecting any employee as mentioned in the Section 12 of this compensation plan agreement.
- A member of the compensation committee at “Stone Media” will not be eligible for participation in the Compensation Plan.
IN WITNESS WHEREOF, the parties “Company” and “Employee” have executed this Compensation Plan agreement as on the date set forth which is 11/18/2011 (MM/DD/YY).
SIGNED FOR AND ON BEHALF OF COMPANY BY:
…………………………………………………………….
Name:
SIGNED FOR AND ON BEHALF OF EMPLOYEE BY:
…………………………………………………………….
Name: