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Compensation & Benefits: In Focus.
Developments In Executive Compensation And Employee Benefits
Compensation Arrangements to Check Before Year-End--Quick Action May Be Required There are several tax-driven items related to incentive and deferred compensation that employers should include on their year-end checklist. There are three types of arrangements that should be reviewed to determine whether any action is required before December 31, or possibly soon thereafter. Public Company Performance-Based Compensation Arrangements: For public companies intending to comply with Section 162(m), performance-based compensation that becomes payable, regardless of whether applicable performance goals are attained, in the event of the covered employee's involuntary termination (including without "cause" or for "good reason") or retirement, may be running out of the "grace period" and may require modification. Click here (www.kattenlaw.com/section-162-deadline/) to read more. Deferred Compensation Arrangements: Section 409A provides for same-year corrections of certain types of errors made with respect to deferred compensation arrangements. Therefore, if any unintentional operational failures occurred this year, time is running out to make the per...See the full content of this document
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