The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is intended to stimulate the U.S. economy in light of the COVID-19 pandemic. The CARES Act contains a number of provisions relating to employee benefits and executive compensation.
The Ontario Court of Appeal recently considered the important question of whether a terminated employee is entitled to be awarded damages in lieu of a lost opportunity to earn incentive plan compensation during his or her reasonable notice period.
In a recent case, the Court of Appeal for Ontario decided that an employee’s right to purchase shares of his employer’s parent corporation under a Shareholders’ Agreement would be governed by that agreement, including upon termination of his employment.
The IRS recently issued proposed regulations under Section 457 of the Internal Revenue Code that prescribe rules regarding deferred compensation plans sponsored by state and local governments and tax-exempt organizations.
The SEC has adopted a final rule requiring publicly traded corporations to disclose, to the SEC and shareholders, the ratio of CEO compensation to the "median compensation" of the corporation's employees (except the CEO).