Set up a Deferred Compensation Plan for outside directors (i.e., directors who are not employees of the company or any subsidiary) with this template form for a USA company. Provisions of the Plan include:

• The Plan allows the non-employee directors to defer receipt (for income tax purposes) of all compensation which would otherwise be paid to them for acting as a director.
  
• A participant in the Plan can elect to have the deferred compensation invested in shares of the company's common stock or let it accumulate and earn interest.

This is a USA incentive plan in MS Word format, and is completely editable to fit your company's needs.