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Employment Contract Internal Revenue Service

Bradley Arant Boult Cummings LLP

Spring Cleaning: Is Your “Employment House” in Order?

Spring is here (for most of us we hope) with warmer weather, fresh flowers, yard work and outdoor activities. Now is also a good time to ensure your “employment house” is in order. Here are some items for your employment...more

Lathrop GPM

Federal Trade Commission Non-Compete Clause Rule May Exempt Certain Nonprofit and Other Types of Employers

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As covered in an earlier client alert by our firm, The Federal Trade Commission (FTC)’s final Non-Complete Clause Rule—if it survives legal challenges and becomes effective—would ban most post-employment non-compete...more

BakerHostetler

Employers Beware: Broad Confidentiality and Severance Clauses May Violate Whistleblower Protection Laws

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Employers should check their confidentiality and severance agreements for a common oversight that, for some, is becoming a costly error. Recent enforcement activity by the Securities and Exchange Commission (SEC) of Rule...more

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

Fisher Phillips

IRS Addresses Lingering Employer Questions Regarding COBRA Premium Assistance and Corresponding Tax Credits under the American...

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The American Rescue Plan Act (ARPA) provides for 100% premium assistance to certain qualified beneficiaries for continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) for periods of...more

Stoel Rives LLP

2021 IRS Adjusted Dollar Limits for Employee Benefit Arrangements

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In this legal update, our employee benefits team highlights the recently issued 2021 calendar year limits for qualified retirement plans, other retirement arrangements, fringe benefits, and health and welfare plans....more

Weintraub Tobin

Finally – SBA Guidance On An Employer’s PPP Loan Forgiveness When Employees Refuse to Return To Work

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On May 3, 2020, the SBA updated its FAQs regarding the Paycheck Protection Program (“PPP”) under the CARES Act. Among other things, the updated FAQs finally addressed this issue: What happens to an employer’s ability to...more

Miles & Stockbridge P.C.

Top Ten Benefit and Compensation Issues in Employment & Separation Agreements

When a company negotiates either an employment agreement or separation agreement with an employee, the employee benefits offered are typically a large piece of the total package. However, the terms of these types of...more

Dorsey & Whitney LLP

Under New IRS Section 162(m) Guidance, Many Common Arrangements will not Retain Grandfathered Status

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On August 21, 2018, the Internal Revenue Service (“IRS”) released Notice 2018-68 (the “Notice”), which clarifies a number of changes made to Section 162(m) of the Internal Revenue Code (the “Code”) by last year’s Public Law...more

Foley & Lardner LLP

IRS Provides Guidance on Application of Code Section 162(m) as Amended by the Tax Cuts and Jobs Act of 2017

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On August 21, 2018, the IRS issued initial guidance (Notice 2018-68) to assist companies in determining how the changes made to Internal Revenue Code Section 162(m) (“Section 162(m)”) by the Tax Cuts and Jobs Act of 2017 (the...more

Skadden, Arps, Slate, Meagher & Flom LLP

IRS Issues Anticipated Guidance on Covered Employees and Grandfathering Rules Under Code Section 162(m)

On August 21, 2018, the Treasury Department and the Internal Revenue Service (IRS) issued Notice 2018-68, which provides eagerly awaited guidance for changes that were made to Section 162(m) of the Internal Revenue Code...more

Holland & Knight LLP

Religious Institutions Update: August 2016

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When was the last time your organization reviewed your insurance policies? Not all policies are equal. Many religious organizations are underinsured. Most should have general liability, property, professional liability,...more

McDermott Will & Emery

IRS Provides New 409A Guidance; New Proposed Regulations Provide Additional Clarity, Warn of Abusive Practices, and Present...

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In Depth - Additional flexibility to use Section 409A exemptions - ..Expanded availability of the rules for transaction-based compensation for stock rights and incentive stock options. The final regulations allow...more

Mintz - Education and Nonprofits Viewpoints

More Money, More Problems? – The Rise of Compensation and Expectations for College Coaches (Employment Matters)

This is the second installment of a series regarding legal issues affecting college athletics that Employment Matters will run during this year’s NCAA basketball tournament. It is no secret that the salaries of coaches...more

Mintz - Employment, Labor & Benefits...

More Money, More Problems? – The Rise of Compensation and Expectations for College Coaches

This is the second installment of a series regarding legal issues affecting college athletics that will run during this year’s NCAA basketball tournament. It is no secret that the salaries of coaches of high profile...more

Laner Muchin, Ltd.

Companies Should Monitor Deferred Compensation Arrangements For Section 409A Compliance Purposes

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Given the complexity of the rules under Section 409A of the Internal Revenue Code, which govern the timing and taxation of payments made under non-qualified deferred compensation arrangements (NDCAs), companies are encouraged...more

Troutman Pepper

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

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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

Saul Ewing Arnstein & Lehr LLP

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

Proskauer Rose LLP

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

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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

Katten Muchin Rosenman LLP

Section 409A Transition Relief Deadline Quickly Approaching

As the end of the year approaches, important transition relief from penalties and excise taxes imposed by Section 409A of the Internal Revenue Code (the Code) is about to expire. If an employer has an employment agreement or...more

Pillsbury Winthrop Shaw Pittman LLP

Year-end Deadline for Correcting Section 409A Deferred Compensation Arrangements Conditioned on Employee Release or Covenant

By December 31, 2012, all deferred compensation arrangements in which payment is contingent on employee action, such as execution of a release of claims, must either include payment-timing restrictions that comport to IRS...more

McAfee & Taft

McAfee & Taft EmployerLINC Employee Benefits Law Alert: Year-end IRS deadline looms for correcting release language in 409A...

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Employers with employment agreements, severance policies, and other non-qualified deferred compensation agreements that contain language conditioning any payment on employee action, such as the execution of a release of...more

King & Spalding

409A Transition Relief Ends December 31 for Certain Severance and Other Employment Agreements

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Employment, change in control, and severance agreements, as well as severance and deferred compensation plans, often condition payment upon the execution of a release or a noncompete or other employment-related condition. Any...more

Mintz - Employment, Labor & Benefits...

Section 409A Document Correction Relief: Take the Final Bite of the Apple before December 31st

Background - Section 409A of the Internal Revenue Code (Section 409A) regulates the payment of non-qualified deferred compensation. If a plan or agreement is not otherwise exempt from Section 409A and does not comply with its...more

Littler

Time is Running Out! December 31 Deadline Nears for Documentary Correction of Payments Contingent on the Execution of a Release...

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Severance and other deferred compensation payments that are contingent on the execution of a release can in some circumstances result in a violation of Section 409A of the Internal Revenue Code. Section 409A governs the...more

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