SALE AND LEASEBACK Definition

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SALE AND LEASEBACK is a financial transaction, where one sells an asset and leases it back for the long-term. 

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CONDENSED FINANCIAL STATEMENTS are presented in considerably less detail than complete financial statements.

RABBI TRUST is a nonqualified deferred compensation plan whereby an employer and employee agree to defer payment for the employees services until a specified future date. The rabbi trust features an irrevocable grantor trust that is set up by the employer to hold the contributions set aside for the employee. While this provides the employee some degree of safety that the money will be available when desired, the terms of the trust must be such that exposes the trust assets to the claims of the employers creditors.

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