Compensation & Benefits Updates from Cooley Godward Kronish LLP

Cobra Subsidy Program Extended and Expanded Again; DOL Releases Updated Model Notices

Thu, 18 Mar 2010 00:00:00 GMT

On March 2, 2010, President Obama signed into law the Temporary Extension Act of 2010 (the "Act"), provisions of which extend several assistance programs that are essential to the many persons currently unemployed in the U.S. In relevant part, the Act extended, for a second time, the program that...

Riskmetrics Group Introduces CGQ Successor: Governance Risk Indicators ("GRId")

Fri, 12 Mar 2010 00:00:00 GMT

Introduction

Recently, RiskMetrics Group ("RMG")¹announced its new corporate governance rating product, Governance Risk Indicators (to be known as GRId). GRId is the successor to RMG's Corporate Governance Quotient rankings or "CGQ rankings" and it is ...

Employers May Need to Monitor Compliance of Business Associates with HITECH Act

Wed, 17 Feb 2010 00:00:00 GMT

The American Recovery and Reinvestment Act of 2009 is commonly known for its provisions designed to stimulate a flagging economy. However, the Act's Title XIII (known as the "Health Information Technology for Economic and Clinical Health Act" or "HITECH Act") has another purpose—to impose obl...

Relief From Section 409A for Plan Document Errors Requires Prompt Action

Wed, 17 Feb 2010 00:00:00 GMT

Earlier this year the IRS issued Notice 2010-6, which provides formal guidance for correction of Internal Revenue Code Section 409A plan document errors. Generally, the earlier that the plan document error is corrected under the terms of the Notice, the more likely that adverse Section 409A tax c...

COBRA Subsidy Expanded and Extended

Tue, 22 Dec 2009 00:00:00 GMT

On December 19, 2009, President Obama signed into law the Department of Defense Appropriations Act, 2010 (the "Appropriations Act"), provisions of which extend and expand the program that subsidizes co...

Special Reporting Requirements Regarding Incentive Stock Options and Employee Stock Purchase Plans—Final Regulations Issued Under Section 6039

Thu, 17 Dec 2009 00:00:00 GMT

Background

Section 6039 of the Internal Revenue Code of 1986, as amended (the "Code"), imposes reporting requirements on corporations with respect to the exercise of incentive stock options and the transfer of stock acquired under employee stock purchase plans.

In...

IRS Issues Final Regulations for Employee Stock Purchase Plans

Tue, 15 Dec 2009 00:00:00 GMT

Overview

An employee stock purchase plan ("ESPP") allows employees of corporations (typically publicly traded companies) to purchase company stock or stock of an affiliate at a discount with the potential for favorable tax treatment under Section 423 of the Internal Rev...

Reminder: Publicly Held Corporations Should Evaluate Bonus Compensation Arrangements Before 2010

Fri, 20 Nov 2009 00:00:00 GMT

Under Section 162(m) of the Internal Revenue Code, a publicly held corporation may not deduct in a taxable year more than $1 million of compensation for any key executive officer who is considered a "covered employee,"[1] unless the compensation qualifies as performance-based. As discussed in our...

Will You Be Ready For Section 409A Compliance Audits?

Thu, 29 Oct 2009 00:00:00 GMT

IRS audits that cover compliance with Section 409A of the Internal Revenue Code seem a near term certainty.[1] As a result, employers should take steps now to ensure that their deferred compensation arrangements are in compliance with the documentary and operational requ...

97 Cooley Godward Kronish Attorneys Named to Super Lawyers 2009

Wed, 28 Oct 2009 00:00:00 GMT

October 28, 2009 – Law & Politics magazine recognized 97 Cooley Godward Kronish attorneys in its 2009 Super Lawyers publications. Only five percent of the lawyers in the each state or region are honored by Super Lawye...