A Deferred compensation implies to an organizational arrangement in which an employee can request for paying a portion of his income at a later stage of his career. The retirement plans, stock options and pension plans are examples of deferred compensation. As per directors deferred income agreement, a professional hailing from the board of directors of an organization and who is not among the employees of the organization, possesses a right to defer all or a part of his remuneration to be deferred.
He can request to receive this sum as either cash or as stock of the company in future. As per this program the director can make an arrangement certain part of his / her compensation at a particular future date, or after he retires & stops working as the director of the organization.
For this the director is required to indicate a percentage which shall be deferred from his compensation in the agreement and can be deposited in the stock or cash deferral account for the future use.
Sample for Directors Deferred Compensation Plan Agreement
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