Executive Compensation Lawyers in Philadelphia review all Executive Compensation Options
Non-Qualified Deferred Compensation
When a non-qualified deferred compensation plan is offered, for example, income earned in one year is paid out in another. Such arrangements not only provide an executive with future financial income, but also an interest-accruing tax deferral. The executive receiving a non-qualified deferred compensation plan is unlimited by the amount or type of compensation that can be deferred – including bonuses – and the funds may be accessed pre-retirement. However in the event of a corporate bankruptcy, an executive may see his or her tax-deferred earnings vanish overnight.
Long-Term Stock and Cash-Based Incentives
Executives who have been presented with long-term stock and cash-based incentives should also seek the advice of an experienced Philadelphia employment lawyer. Although such arrangements often prove lucrative, fluctuations in the stock market or problems with an under-performing product can leave an executive financially vulnerable through no fault of their own. The Pennsylvania executive compensation lawyers at Sidney L. Gold & Associates will fight tirelessly to ensure that you receive the compensation you deserve.
Severance agreements require close scrutiny. At Sidney L. Gold & Associates, we will give you a better understanding of the real-world implications of your severance package, including non-solicitation and non-compete restrictive covenants which may dramatically affect your ability to start over elsewhere. If you are already an outgoing executive with no severance agreement in place, it is imperative that you retain counsel. You may already be entitled to severance benefits pursuant to the Employee Retirement Income Security Act (ERISA), or our Philadelphia employment lawyers can assist you in the negotiation of a new severance package.
Executive Health Care Coverage
Executive health care coverage has recently changed with the enactment of the Affordable Care Act (ACA.) Although historically certain corporate “highly compensated individuals” (HCIs) were offered enhanced or supplemental fully-insured health benefits – even after termination – the ACA requires that those benefits comply with the same non-discrimination rules already applied to self-insured plans. According to IRS code, an HCI is defined as one of the five highest paid officers, a shareholder owning more than ten percent of the stock of an employer, or among the highest paid 25% of all employees.