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Bonuses Severance Pay

Manatt, Phelps & Phillips, LLP

409A Issues in Executive Compensation Contracts and Employment Agreements

Section 409A of the Internal Revenue Code of 1986, as amended (409A), was enacted into law in 2004 to impose statutory requirements on “nonqualified deferred compensation plans, programs or arrangements” (collectively...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Employee Benefits and Rights in Puerto Rico: What to Know Now That Law 41-2022 Has Been Declared Null and Void

On March 3, 2023, the U.S. District Court for the District of Puerto Rico issued a decision declaring Law 41-2022 null and void, effectively reinstating the prior state of many of Puerto Rico’s employment statutory...more

Littler

Clawback clauses in the Netherlands can be a risky business

Littler on

"Clawback clauses" state that employees must refund all or part of their variable bonus if it is determined that the bonus should not have been paid out in the first place. ...more

Fisher Phillips

A Not-So-Merry Christmas in Your Future? Nevada Legislature Limits the Contents of Public-Sector Employment Contracts

Fisher Phillips on

Beginning on December 1, 2022, Nevada public employers will have new limitations placed on certain common elements contained in employment contracts. Governor Sisolak recently signed Assembly Bill 385 into law, prohibiting a...more

Fisher Phillips

Labor Department Offers Employers Some FLSA Clarity Through New “Regular Rate” Interpretation

Fisher Phillips on

For the first time in over 60 years, the U.S. Department of Labor today issued a final rule updating its interpretative guidance with respect to permissible exclusions from the “regular rate.” According to the USDOL, the...more

Littler

Guidelines on the Interpretation of Puerto Rico’s Employment Legislation, Chapters 1-3

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As we have previously discussed, the Puerto Rico Department of Labor (PR DOL) has recently published the first edition of its Guidelines on the Interpretation of Puerto Rico’s Employment Legislation (Guidelines), which...more

Carlton Fields

Retirement Plans Can Solve The Million-Dollar Problem For Entities At Risk Of Excise Taxes On Compensation

Carlton Fields on

All entities, including governmental entities, are now potentially liable for penalties due to overpaying employees....more

FordHarrison

Puerto Rico Issues Comprehensive Labor Law Reform

FordHarrison on

On January 26, 2017, Puerto Rico’s Governor, Ricardo Roselló, signed into law the Labor Transformation and Flexibility Act (the “Act”). The Act represents the first significant and comprehensive labor law reform to occur in...more

Littler

Puerto Rico Approves Major Reform of its Employment Laws

Littler on

On January 26, 2017, the Governor of Puerto Rico approved the Labor Transformation and Flexibility Act (“the Act"). The Act makes substantial changes to virtually all existing Puerto Rico employment laws, including those...more

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