The Directors Charitable Award Plan agreement is a contract that is created between the company and the board of directors. The purpose of such an agreement is to enable the director to award a particular charity with a certain amount for the benefit of that charitable organization. It is a form of tax relief which allows the director to evade a certain amount of tax. The plan is for those who are highly compensated employees as well. It is important to understand that this agreement is crated only for certain specific director employees and may not be applicable for all.
Moreover, this agreement will differ as per the company’s rules and regulations. There will be different requirements from the director as well for such an award plan. Generally, it is provided to those with exemplary contribution to the company. The agreement will exist for a certain period of time after which it may or may not be renewed.
Directors Charitable Award Plan agreement
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