TheCorporateCounsel.net

September 11, 2007

Some Section 409A Deadlines Postponed!

Hat tip to Mike Melbinger’s blog on this: Yesterday, the IRS released Notice 2007-78 offering transition relief for certain provisions of Code Sec. 409A that previously had a December 31, 2007 deadline. Specifically, Notice 2007-78:

– Extends to December 31, 2008, the deadline to adopt documents and amendments that comply with Section 409A, subject to limited requirements regarding the timely written designation of a time and form of payment.

– Provides guidance and additional relief addressing certain issues raised by the application to employment agreements and cashout features of Section 409A and the final regulations (Mike promises to blog more on this later today).

– Announces that the Treasury Department and the IRS anticipate issuing guidance containing a limited voluntary compliance program that will permit taxpayers to correct certain unintentional operational violations of 409A.

How Much Do You Know? The SEC’s Executive Compensation Comment Letters

People dug the “Pro or Troll” quiz on TheCorporateCounsel.net, so I thought we would post one on CompensationStandards.com devoted to the SEC’s executive compensation letters. Give it a whirl – “Are You a Pro or Troll?

It will take you less than a minute to complete the five-question quiz. It will score your answers as you go—and let you know how you compare against your peers. All participation is completely anonymous.

Don’t Miss the Fancy Course Materials

Fyi, there will be a bunch of these fun quizzes available as part of the online experience when you watch the video webcast of “Tackling Your 2008 Compensation Disclosures: The 2nd Annual Proxy Disclosure Conference.” There will be a quiz that goes along with each panel, so you will be able to evaluate how much you learned compared to the other several thousand watching online.

In addition, each panel will include a set of the popular “Essential Practice Tips You Oughta Know” – as well as a compilation of the Staff’s comments that pertain to that panel’s topic area. No other conference provides as much practical information as this one. Register today!

The Evolution of Deal Rooms

In this DealLawyers.com podcast, Joel Lessem, the CEO of Firmex, explains how deal rooms are evolving, including:

– How are your deal rooms different from your competitors?
– How do you see the use of deal rooms evolving?
– What are some surprising ways that deal rooms are being used?

– Broc Romanek