Flexible Spending Account. Your employer may offer dependent care benefits by allowing you to use pre-tax dollars to pay for your child care expenses. This arrangement is a flexible spending account that is funded pre-tax contributions, deducted from your pay. For 2013, the maximum tax-free amount is $5,000.
golden parachute. A clause in an executive's employment contract specifying that he/she will receive large benefits in the event that the company is acquired and the executive's employment is terminated.
Definition Edit. A letter contract (also known as an undefinitized contract) is a temporary contract intended to âauthorize immediate commencement of. . . workâ prior to the execution of the final contract.etter contracts typically state that a formal contract will be executed at a later date and incorporate certain terms and conditions by reference. Courts may or may not consider letter contracts to be legally binding, depending upon the language contained in the contracts.