Compensation Agreement

Simply complete the Compensation Agreement below and click View Results to see your completed contract.

LawDepot's Compensation Agreement is ideal for:

  • Is used to amend an employee's salary and other compensation.
  • Avoids the need to create a new employment agreement to change an employee's compensation.
  • Allows for changes to salary, benefits, bonuses, and other areas of compensation.
  • Is inexpensive and easy to use.
  • Can be used multiple times per employee or for multiple employees.

For situations requiring a full employment contract, try our Employment Contract

We regularly maintain this contract. Last Modified: January 2014
Compensation Agreement Details
Check to show hints for completing this form

This software has the flexibility to let you quickly create the Compensation Agreement you want. It does this by providing many options with appropriate defaults.

Ensure that the details of the employer and employee are filled in correctly and completely.

If you want to create additional clauses, you can choose the appropriate number that you need. If doing so make sure you use complete sentences.

Employer Information

Name:

Address:
  (e.g. Street, City, Province or Territory, Postal Code)
Type:
Employee Information

Name:

Address:
  (e.g. Street, City, Province or Territory, Postal Code)
Type:
Employment Agreement Information
Date of execution of original employment agreement:
  (e.g. September 30, 2012)
Is there any existing compensation agreement?
Date of execution of existing compensation agreement:
 
(e.g. September 30, 2012)
Term of Compensation Agreement
Start Date:
  (e.g. January 1, 2012)
End Date:
  (e.g. December 31, 2012)
How will compensation be set at the end of this term?
Employee's Compensation
Type of Compensation:
Hourly Rate:
(e.g. 20.00)
How often is employee paid?:

Are terms of overtime changed from the existing employment agreement?
 
Describe the overtime terms:
(e.g. The Employee will be paid overtime at the rate of 1.5 times their hourly rate.)
(e.g. The Employee will receive time off in lieu of overtime.)
(e.g. The Employee will not be paid overtime.)

Are terms of vacation time changed from the existing employment agreement?
 
Describe the vacation terms:
(e.g. The Employee will receive two weeks of vacation time each year.)

Is the employee entitled to any additional bonus not already contained in the existing employment agreement?
 
Additional Bonuses
How many additional bonuses is the employee entitled to receive?
Additional Clauses
How many additional clauses do you want to create?
Miscellaneous Terms
Please select any of the following recommended clauses:
The 'Time is of the Essence' clause emphasizes the importance of times and dates in the Agreement. As such, delays by either party may be grounds for cancellation.
The 'Assignment Prohibited' clause prevents the Employee from having another individual or corporation perform the Employee's work without the employer's consent.
The Headings clause ensures that any headings within this agreement are not used to misinterpret the meaning of the Agreement.
The Severability clause provides that if a particular provision is declared to be invalid by the courts, the validity of the remaining provisions will not be affected.
The 'Modification of Agreement' clause requires that any changes to the Agreement must be made by written consent of both parties.
The 'Entire Agreement' clause confirms that there are no other terms outside of this Agreement.
Signing Details
Agreement To Be Signed: