News & Analysis as of

Employment Contract Employee Benefits Severance Agreements

Does Your Severance Trigger ERISA? Why You Should Care and What You Should Do

by Foley & Lardner LLP on

Generally speaking, many employers do not think about the Employee Retirement Income Security Act (ERISA) when it comes to severance, whether at the front end, when employment agreements or policies are negotiated and...more

Employment Law Issues in Mergers and Acquisitions

by Zelle LLP on

Last week, Microsoft announced its purchase of LinkedIn for $26.2 billion. This acquisition is interesting for a number of reasons, and is very likely to affect the future of professional social networking. It also got us...more

409A Update: Employment Agreements Requiring Executed Releases May Need to Be Amended by December 31

by Pepper Hamilton LLP on

It is standard practice that employment agreements condition payment of severance benefits or other separation compensation on the employee executing a general release of claims against the employer. However, unless...more

Employment Contracts and Severance Agreements Should be Reviewed and May Need to be Amended by December 31 to Comply with Section...

Severance agreements and employment contracts with release of claims provisions may violate 409A of the Internal Revenue Code. Bad release provisions may be fixed, penalty-free, before December 31, 2012. Most severance...more

Relief for Correcting Certain Internal Revenue Code Section 409A Failures Expires This Year

by Proskauer Rose LLP on

The Treasury Department and the IRS have provided favorable transition relief for correcting arrangements that impermissibly condition the payment of nonqualified deferred compensation on a service provider's completion of...more

December 31, 2012 Deadline to Correct Certain Section 409A Payment Timing Errors

by Reed Smith on

December 31, 2012, is the deadline for correcting certain errors in the written provisions of nonqualified deferred compensation arrangements that provide payments that are contingent on the recipient’s execution of a release...more

409A Transition Relief Expires at Year-End; Employers Should Review Their Plans

by Ballard Spahr LLP on

Employers should review plans and agreements subject to Internal Revenue Section Code 409A before the end of 2012. That’s when transitional relief afforded by the Internal Revenue Service expires for deferred compensation...more

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