Succession planning is a critical aspect of managing small, closely held businesses, as the unexpected departure of a key leader can significantly disrupt operations and challenge the business's legal...
Entering into a letter of intent for an office lease agreement? Consult our playbook for valuable key provisions, alternative language provisions, and guidance for both landlords and tenants. Download...
In the complex world of M&A transactions, transition services agreements (TSAs) serve as critical bridges between deal closing and operational independence thus creating stability during organizational...
This practice note covers key legal and regulatory issues to evaluate, questions to ask, and documents to review in medical device or diagnostic technology deals, including M&A, investments, financings...
Section 162(m) limits the deductibility of taxable compensation paid in any tax year to covered employees of publicly held corporations and certain affiliates to the extent such compensation exceeds $1 million (per covered employee). The Tax Cuts and Jobs Act changed Section 162(m) by (1) eliminating the prior performance-based compensation exemption, and (2) increasing the number of covered executives, consistent with SEC disclosure requirements. Importantly, the TCJA added a “once-covered-always-covered” rule providing that any individual who serves as the employer's CEO or CFO or who is classified as one of the next three highest-paid executive officers remains designated as a Section 162(m) covered employee after employment, and even after death. This worksheet can help you track your covered employees.
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