TheCorporateCounsel.net

On both TheCorporateCounsel.net and CompensationStandards.com, we have posted an updated sample D&O questionnaire; updated for the new SEC rules. Note that this is a mere “sample,” so the typical disclaimers apply…

Sample Compensation Disclosure Checklist

Thanks to Todd Rolapp of Bass Berry, I also have posted a “compensation disclosure checklist” in a Word file in “The SEC’s New Rules” Practice Area of CompensationStandards.com. This is not a mock-up; rather it’s a document that can be used as a starting point to help get a head start on preparing next year’s proxy – you can use it to assign sections to the appropriate persons within the company responsible for gathering certain types of data (and it can help get people motivated and not drag their feet in getting this big job done).

Section 409A Deadlines Extended!

On Wednesday, the IRS and the Treasury Department issued a notice which deals with the Section 409A regulations, including discounted stock option grants (here are some memos analyzing this notice). Here is some analysis from “Mike Melbinger’s Compensation Blog” on CompensationStandards.com: I try not to blog twice in one day, but this news is too good not to share. Just moments after I sent my previous Blog, the IRS published Notice 2006-79, which provides transition relief from the December 31, 2006 deadlines of 409A by:

– Announcing that the final regulations will not become effective until January 1, 2008,

– Generally extending through 2007 the transition relief provided for 2006 in the preamble to the proposed regulations except with respect to certain discounted stock rights,

– Providing additional transition relief for certain payment elections in linked plans and certain collective bargaining arrangements, and

– Extending the amendment date for certain plans that took advantage of transition relief provided for 2005.