How do the specified employee rules under Code Section 409A apply when two public companies merge and both partners use the default rules to identify specified employees based on officer status within the respective company? The Case Study The merger closed after December 31, 2016 and before April 1, 2017. Per the regulations, the acquiring entity’s next specified employee identification date and specified employee effective date govern, which is not an issue since both companies use the…
The Supreme Court of the Netherlands’ interpretation of a “temporary employment contract” in its recent decisions C4C/StiPP, Sector classification and Leerorkest/Tentoo has a significant impact on Dutch employers’ ability to “second” employees from one affiliate to another. The Decision’s Impact on Secondments As a result of the Court’s broad interpretation, in principle, all secondments may be seen as temporary employment contracts, and the seconding Dutch employer may be seen as being engaged in the temporary employment agency…
The establishment of prudent processes is a fundamental element of appropriately discharging fiduciary duties under ERISA. Where a committee acts as the primary plan fiduciary, a written committee charter will typically form the basis for all committee operations. The committee charter effectively provides the “by-laws” and operating guidelines that will govern how the committee discharges its obligations. The Charter’s Role Charters will typically address how committee members will be appointed and replaced, term limits, quorum,…