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.
Unit 6 â Contracts. I. Definition. A contract is a voluntary agreement between two or more parties that a court will. enforce. The rights and obligations created by a contract apply only to the parties to the. contract (i.e., those who agreed to them) and not to anyone else. II.