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This site provides general information for educational purposes, is not intended either to provide legal advice or to be relied upon in any way. There is no substitute for personal legal counsel about your particular situation. This site is not affiliated with any law firm, and merely provides the views of Mark Poerio in his individual capacity.
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Notable Developments as of 2018.05.18
2018.05.17 New or Amended Stock Plans - SEC Provides Disclosure Interps. For proxy statements that include proposals for new or amended stock award plans, the SEC has just issued guidance that answers common questions, such as . . . continued at shareholder approval.
2018.05.14 ISS Problematic Pay Practices - Updated. On at least an annual basis, those who make executive compensation decisions for public companies should check their practices against the guidelines published by ISS and other proxy advisory firms. See this table for a checklist that generally tracks, the U.S. Compensation Policy FAQs that ISS most recently updated on December 14, 2017.
2018.05.13 Medical Powers of Attorney and Estate Planning. This Investors Business Daily article is worth reading for smart reasons to get out in front of estate planning - especially for signing a medical power of attorney. Maryland provides a straightforward form, and it is thought-provoking to consider the choices. Glad to share more info via email.
2018.05.08 Checklist for Improving Release Agreements. There is nothing worse for an employer than paying money to settle claims, and then finding that its claims release is invalid - or is resulting in further litigation. See this page for provisions by which employers may avoid having their claims releases backfire.
2018.04.30 ERISA and Severance Plans: 3rd Circuit Decision Should Prompt Employers to be Proactive. Pursuant to the Supreme Court's seminal Fort Halifax decision, an "ongoing administrative scheme" is needed in order for a severance plan to become subject to ERISA. Plan designs that build-in elements of discretion generally create a scheme, but the 3rd Circuit just cast some uncertainty to that strategy by holding that . . . continued at Severance Plan Litigation.
2018.04.19 Excessive Compensation Claims Proceed vs CBS Directors. A Delaware Chancery Court decision details "an extreme factual scenario" involving salary and bonus payments that CBS paid to Sumner Redstone during a time when it was well-publicized that his health was failing. The lesson for corporate directors involves . . . continued at Excessive Compensation Claims.
2018.04.17 Going Forward after Code 162(m) Changes. It is one thing to recognize what changed, and another to take smart action in response. ISS has given some indication of what it expects. For discussion of these points and some ideas drawn from a teleconference that I co-hosted today, go to Code 162(m) Update 2018.
2018.04.07 Voluntary Severance Plan - Fidelity's Experience. What happens when 3,000 employees over age 55 receive a buy-out offer because they have more than 10 years of experience? Fidelity made that offer, and its results do not surprise because . . . continued at Voluntary Severance Plans, with a discussion of how those buy-out plans can work - and backfire.
2018.02.07 "The Front Line in the War Against Sexual Harassment" explains why "For employers who agree that bad acts should have bad consequences, 2018 will be a good year in which to revisit what is placed at risk, and how that risk will materialize." Further discussed at Dismissals for Cause.
2018.06.19 Private Companies & M&A Benefit Plan Issues. That's the topic for my PLI briefing in NYC on June 19th. For the powerpoint or with questions, just email Mark.
2017.04.04 Claims Releases and Government Enforcement Risks. The SEC and the EEOC have been slapping significant penalties (up to $1.4 million so far) on employers whose separation agreements with former employees - or employment agreements with active employees -- discourage whistle-blowing actions. See this Release Checklist for provisions to consider updating.
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