SEC Releases Letter Clarifying Application of Section 402 of Sarbanes-Oxley Act
Last month the SEC issued a no-action letter to a financial services firm that sheds light on the scope of the prohibition under Section 402 of the Sarbanes-Oxley Act of 2002 which makes it unlawful for an issuer to “extend [...]
Common 409A Misconceptions
Every 409A attorney knows the look. It’s a look that is dripping with the 409A attorney’s constant companion – incredulity. “Surely,” the client says, “IRS doesn’t care about [insert one of the myriad 409A issues that the IRS actually, for [...]
Facebook and 409A: When $300 Million Isn’t Enough
On May 18th, two famous, photogenic Olympians found themselves almost $300 million richer. A banner day for anyone, and yet they may have felt at least a twinge of regret. Why? They contend that 409A should have made them much [...]
Five Common 409A Design Errors: #5 Payment Periods Longer than 90 Days
This post is the fifth and final post in our BenefitsBryanCave.com series on five common Code Section 409A design errors and corrections. Go here, here, here, and here to see the first four posts in that series. Code Section 409A [...]
Five Common 409A Design Errors: #4 No Six-Month Delay for Public Company Terminations
This post is the fourth in our BenefitsBryanCave.com series on five common Code Section 409A design errors and corrections. Go here, here and here to see the first three posts in that series. Code Section 409A is, in part, a [...]
March 15th: Code Section 409A Day
Your company sponsors an annual bonus program. Bonuses are tied to company calendar year performance. The bonus plan says that payments are to occur by March 15th of the year following the performance year. March 15th has always struck you [...]
Five Common 409A Design Errors: #3 Multiple Forms of Payment
This post is the third in our BenefitsBryanCave.com series on five common Code Section 409A design errors and corrections. Go here and here to see the first two posts in that series. Let’s say that you are negotiating your CEO’s [...]
Five Common 409A Design Errors: #2 Reimbursements
Over the next several weeks, we will be writing about five common Code Section 409A design errors and corrections. It should (but will not) go without saying that Code Section 409A has an extraordinarily broad reach. Many claim this reach [...]
Five Common 409A Design Errors: #1 Employment Claims Releases
Over the next several weeks, we will be writing about five common Code Section 409A design errors and corrections. This is the first of those posts. You are designing an executive employment agreement with a substantial severance component. For the [...]
Have You Inadvertently Amended Your Benefit Plans in an Acquisition?
Has your company recently acquired another company or its assets? Did the purchase agreement require continuation of any particular level of benefit for acquired employees or retirees? If so, the Fifth Circuit appears to believe that the purchase agreement may [...]
