Employment contracts and nonqualified deferred compensation plans may require amendment by year-end *

USA - July 18 2012
In order to maintain compliance with Section 409A of the Internal Revenue Code, employers should review and correct, as needed, by December 31, 2012, any nonqualified deferred compensation plans and employment contracts in existence since on or before Dec. 31, 2010, to avoid possible income tax and penalties.

Co-authors: Alson R. Martin, Michel A. Thompson, Jenny Cascone Mosh, Gregory B. Kuhn.