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Section 409A of the Internal Revenue Code applies to employment, severance and other similar agreements that provide for post-termination severance or other compensation payments unless the agreement qualifies under one of a handful of limited exceptions
As reported in multiple outlets, last week the U.S. District Court for the District of Maryland dismissed the shareholder-derivative say-on-pay suit against the board of directors of Biomed Realty Trust, Inc. for failure to state a claim
Senator Charles Grassley has sent a letter to the Justice Department asking how Justice has enforced “key employee retention plans” (KERPs) under 503(c) of the U.S. Bankruptcy Code
Last, week ISS released a white paper containing an in-depth description of its new methodology for measuring “disconnects” between CEO pay at an issuer and the issuer’s performance the primary driver for “no” vote recommendations on companies’ say-on-pay proposals
