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Severance Agreements Compliance

Felicello Law PC

Congratulations On Your New Role: Here’s How to Protect Yourself Legally

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If you have recently obtained a new position in the C-Suite, you are aware that the new position brings prestige, authority, and opportunity. But you may not be aware that as an officer of a company, you have also increased...more

Foley & Lardner LLP

Tricky Compliance Issues for Companies When an Executive Terminates Employment: 409A Applicability to Severance

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Executive employment relationships are rarely permanent. When an executive or other senior-level employee terminates employment, companies often must deal with difficult tax, equity, and benefits issues that arise in...more

Foley & Lardner LLP

Tricky Compliance Issues for Companies When an Executive Terminates Employment: Executive Severance Plans

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Executive employment relationships are rarely permanent. When an executive or other senior-level employee terminates employment, companies often must deal with difficult tax, equity, and benefits issues that arise in the...more

Davis Wright Tremaine LLP

New York Assembly Considering Bill To Create Consideration and Revocation Periods for All Severance Agreements

New York employers should be aware of the potential need for changes to their separation agreements that would require consideration and revocation periods for all employees, regardless of age. The New York State Senate...more

Mintz - Employment Viewpoints

NLRB Moves Away from Biden-Era Approach on Severance Agreements

As part of the Trump Administration’s significant efforts to roll back the Biden Administration’s policies, the Acting General Counsel of the National Labor Relations Board (the “NLRB”) recently rescinded, via Memorandum GC...more

Foley & Lardner LLP

Are Workforce Reductions Coming to the Private Sector? And, if so, How Should Companies Handle Them?

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Massive federal workforce reductions (once a rare event) have been featured prominently in the news lately, along with reports of criticism about the way they are occurring. Will private companies follow suit? Some economic...more

Keating Muething & Klekamp PLL

NLRB Acting General Counsel Rescinds Numerous Predecessor’s Memoranda

On February 14, 2025, National Labor Relations Board (NLRB) acting General Counsel William B. Cowen rescinded several memoranda issued by the former NLRB General Counsel Jennifer Abruzzo. The rescinded memoranda include, GC...more

Conn Kavanaugh

When Employers Should Seek Employment Counsel: 7 Key Scenarios

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Navigating employment laws can be challenging for businesses in Massachusetts. From hiring to termination, understanding this complex legal landscape is crucial to avoid costly mistakes. This article highlights seven key...more

King & Spalding

Effect of New FTC Rule Banning Post-Employment Non-Compete Agreements on Executive Compensation Arrangement

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On April 23, 2024, the Federal Trade Commission issued its final rule imposing a nationwide ban on employers using post-employment non-competes with current and former workers. Other than narrow exceptions for (1) existing...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

PilieroMazza PLLC

Clocking in with PilieroMazza: #LNE4GovCons: Impacts of NLRB’s Ruling on Severance Agreement Content

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Do you have 10 minutes or less to stay on top of the ever-changing laws and regulations around labor and employment? Check out PilieroMazza‘s new podcast “Clocking in with PilieroMazza: Labor and Employment News for...more

White and Williams LLP

The Amended New Jersey WARN Act Client Alert

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On January 10, 2023, Governor Murphy signed Assembly Bill No. 4768, which gives permanent effect to sweeping amendments previously enacted to New Jersey’s WARN Act (“NJ WARN”). Originally slated to take effect in July 2020,...more

Morrison & Foerster LLP

Top Ten International Anti-Corruption Developments for August 2016

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...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

Parker Poe Adams & Bernstein LLP

How Should Employers Draft Severance Agreements Post-CVS?

Last month, a federal judge in Illinois dismissed a lawsuit brought by the Equal Employment Opportunity Commission contending that a standard release agreement used by the CVS drugstore chain violated the anti-retaliation...more

McNees Wallace & Nurick LLC

The EEOC's Latest Target – Severance Agreements

Employers have long offered employees severance or other post-employment benefits in exchange for a waiver and general release of claims. Agreements of this kind often help make a difficult separation somewhat easier. By...more

Franczek P.C.

EEOC Continues Its Aggressive Stance Against Severance Agreements

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Last Friday, the Equal Employment Opportunity Commission filed suit against CVS Pharmacy in the Northern District of Illinois alleging that standard separation agreements used by CVS unlawfully deter employees, who sign these...more

Akerman LLP

Deadline Approaching for Section 409A Year-End Correction

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Section 409A Year-End Correction Deadline: Compensation arrangements such as employment or severance agreements, that provide for payments that are contingent on the execution of a release, must be brought into compliance...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

Fisher Phillips

Benefits Update, No. 4, November 2012: Deadline to Correct 409A-Covered Documents Involving Employee Releases Is December 31, 2012

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Internal Revenue Code Section 409A governs deferred compensation, which includes, with some exceptions, practically all agreements or plans in which an agreement is made in one year to pay an amount in a later year. Its most...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

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