Deferred Compensation Agreements are essential instruments in Austrian corporate practice for structuring executive and employee compensation packages. These agreements are particularly useful when companies wish to create long-term incentives, retain key employees, or provide tax-efficient compensation structures. The document must comply with Austrian employment law, tax regulations, and social security requirements, while also considering EU directives. It typically includes detailed provisions on calculation methods, vesting schedules, payment terms, and treatment of the deferred amounts in various scenarios such as employment termination or company restructuring. The agreement serves both as a retention tool and a means of aligning employee interests with long-term company performance, while ensuring all arrangements are properly documented and legally enforceable under Austrian jurisdiction.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of the agreement, employment relationship, and purpose of the deferred compensation arrangement
3. Definitions: Key terms used throughout the agreement, including 'Deferred Compensation', 'Vesting Period', 'Trigger Events', etc.
4. Amount of Deferred Compensation: Specification of the amount or percentage of compensation to be deferred and calculation methodology
5. Deferral Period: Timeline and conditions for the deferral of compensation
6. Vesting Provisions: Terms and schedule for vesting of deferred compensation
7. Payment Terms: Conditions and timing for payment of deferred compensation
8. Tax Treatment: Acknowledgment of tax implications and responsibilities
9. Social Security Treatment: Clarification of social security implications and contributions
10. Termination Provisions: Consequences of employment termination on deferred compensation
11. Governing Law and Jurisdiction: Specification of Austrian law application and jurisdiction
12. Signatures: Execution section for both parties
1. Change in Control Provisions: Include when protection in case of company ownership changes is desired
2. Investment Options: Include when the employee has choices for how deferred compensation is invested
3. Non-Competition Clause: Include when linking deferred compensation to post-employment competition restrictions
4. Disability and Death Benefits: Include when specific provisions for incapacity or death are needed
5. Amendment Procedures: Include when flexibility to modify terms is desired
6. Insurance Provisions: Include when the deferred compensation is backed by insurance
7. Rabbi Trust Provisions: Include when a trust structure is used to secure the deferred compensation
1. Schedule A - Calculation Method: Detailed methodology for calculating deferred compensation amounts
2. Schedule B - Vesting Schedule: Detailed timeline and conditions for vesting of deferred compensation
3. Schedule C - Investment Options: List and details of available investment options, if applicable
4. Schedule D - Payment Election Form: Form for employee to elect timing and form of payment
5. Appendix 1 - Tax Information: Summary of relevant tax implications under Austrian law
6. Appendix 2 - Social Security Information: Summary of social security treatment and implications
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