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Compensation Agreement

United Kingdom Compensation Agreement


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United Kingdom Compensation Agreement

[What is a Compensation Agreement?]

Simply answer the questions below to personalize your Compensation Agreement

A compensation agreement is used to supplement an already existing employment agreement between an employer and employee. The compensation agreement is used to describe a revised employee payment scheme and when it will be in effect; the remainder of the employment terms are unaffected.

This document is accurate and up to date! It was last reviewed by a lawyer in February 2012.


... or customize one below.


Governing Jurisdiction:

This agreement will be governed by the laws of which Nation?

Select a State:

Select a Province or Territory:

Select a State / Territory:

Select a Country:

Select a Region:

Select a State or Union Territory:

Employer Information:

Name

Address

City:

Please select a Nation:

Select a province or territory:

Select a state:

Select a State / Territory:

Select a Country:

Select a Region:

Select a State or Union Territory:

Zip Code:

The employer is:

Employee Information:

Name

Address

City:

Please select a Nation:

Select a province or territory:

Select a state:

Select a State / Territory:

Select a Country:

Select a Region:

Select a State or Union Territory:

Zip Code:

The employee is:

Employment Agreement Information:

Date that employment agreement was signed (e.g. May 1, 2010):

Will a copy of the employment agreement be attached to this document?
 Yes No

Prior Compensation Agreement Information:

Is this agreement replacing an existing compensation agreement?
 Yes No

Date that prior compensation agreement was signed (e.g. June 3, 2010):

Will a copy of the prior agreement be attached to this document?
 Yes No

Payment Details:

How will the Employee be paid?

Hourly Rate (e.g. 10.00 dollars):

Yearly Salary (e.g. 52,000.00 dollars):

Commission Formula:


(e.g. The Employee will receive thirty (30) percent of his sales.)

(e.g. The Employee will receive thirty (30) percent of his sales.)

Describe the compensation method:


Payment Frequency:

How often will the Employee be paid?

Other Compensation Details:

Will the Employee's overtime compensation change?
 Yes No

Describe the Employee's overtime compensation:


Will the Employee be receiving bonuses?
 Yes No

How many bonuses do you wish to describe?

Describe the first bonus:


Describe the second bonus:


Describe the third bonus:


Describe the fourth bonus:


Describe the fifth bonus:


Will the Employee's vacation time be changing?
 Yes No

Describe the new vacation time:


Other Optional Provisions:

Do you wish for the Employee to be able to assign this agreement to another person?
 Yes No

By selecting 'yes', the Employee can transfer its rights in this agreement to another person.
Do you wish for this agreement to be severable?
 Yes No

By selecting 'yes', you are saying that if one part of this agreement is invalid for some reason, you want the rest of the agreement to be enforced.
Do you wish to state that time is of the essence?
 Yes No

Do you wish to state that the headings in the agreement do not affect its meaning?
 Yes No

Do you wish to state that this agreement represents all the terms of the Employee's compensation?
 Yes No

By selecting 'yes', you are saying that all changes to the compensation are written in the agreement, and anything not written in the agreement will not be honoured.

Additional Clauses:

Are there any additional clauses you wish to add?
 Yes No

(eg: I wish for the Employee to... This Agreement will...)

How many additional clauses do you wish to add?

First extra clause:


Second extra clause:


Third extra clause:


Fourth extra clause:


Fifth extra clause:


Date and Duration of Agreement:

Date of Signing:

Day (e.g. 4)

Month (e.g. January):

Year (e.g. 2012):

Duration of Agreement:

Date agreement takes effect (e.g. January 15, 2012):

Date agreement ends (e.g. January 15, 2023):