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Executive Compensation & Employee Benefits
Lawyers in the Employee Compensation and Benefits (ECB) practice group work with employers in the United States and abroad to design, implement, and administer all types of employee benefits and executive compensation programs.
We provide a wide range of compensation and benefit services, including:
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Analysis of qualification, deduction and other income and withholding tax issues;
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Advice on fiduciary matters, including responsibilities and liabilities, retirement plan investments, and how to avoid prohibited transactions;
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Design and implementation of nonqualified deferred compensation and equity compensation plans;
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Negotiation, design and preparation of executive employment, consulting, handcuff and parachute agreements;
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Advice concerning welfare benefit programs, such as cafeteria plans and issues arising under COBRA and HIPAA;
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Identification of potential employee benefits issues arising in corporate mergers, acquisitions, reorganizations and other business transactions; and
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Counseling and planning regarding the tax, compensation, benefits, employment and other issues attendant to the transfer of executives and other personnel across borders.
Tax-Qualified Retirement Plans
We draft all manner of tax-qualified retirement plans, including 401(k) plans and ESOPs, and address operational and fiduciary issues as they arise under such plans, including amendments for tax reform changes and new regulations under the Internal Revenue Code and ERISA. Our lawyers also provide advice regarding the complex nondiscrimination testing of such plans and work closely with actuaries with respect to funding issues and matters involving the Pension Benefit Guaranty Corporation. ECB lawyers also have particular expertise in the audit of employee benefit plans and can recommend changes and advise with respect to voluntary compliance programs to avoid potential liabilities to the Internal Revenue Service or US Department of Labor.
Executive Compensation
We draft all types of supplemental pension, change in control and other nonqualified deferred compensation plans, including plans funded through rabbi trusts, secular trusts, and offshore trusts. ECB lawyers design and draft stock option, stock purchase, restricted stock and other omnibus equity compensation plans and advise on the tax and accounting issues related to the establishment of such plans on a global basis.
Corporate Transactions
We have extensive experience identifying and resolving the complex transitional issues arising in corporate transactions, such as mergers and acquisitions, including the division of employee benefit liabilities, the assumption and transfer of employee benefit plan assets, and the negotiation of benefit liability provisions in deal documents and corporate financing agreements. We have represented buyers, sellers, joint venture partners, corporate borrowers and lenders, both in the US and abroad. ECB lawyers advise clients with respect to the design and operation of early retirement incentives in connection with reductions in force, and withdrawals or partial withdrawals from multi-employer pension plans.
International Executive Mobility
ECB lawyers advise multinational employers on the tax, social security, employee benefits, employment law and other legal issues related to the transfer of executives abroad and the hiring of foreign nationals in the United States. We draft expatriate employment agreements taking into account the above issues as well as those presented by immigration laws. We recommend tax-effective compensation and payroll procedures and employment structures for global executives and draft international assignment policies and manuals to implement a best practices approach for both the employer and the executive. ECB lawyers advise employers on tax minimization strategies and tax compliance related to cross-border distributions from retirement plans. Our lawyers counsel employers on effective multijurisdictional reductions in force. We also advise executives and other high-net worth individuals regarding the reduction of global estate, gift, and inheritance taxes. |
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