Publications

Partners Greg Grogan and Jeannine McSweeney, and Associate Jake Phillips authored an article titled, “COVID-19 Considerations for Employee and Director Compensation Reductions,” which was published by The D&O Diary. The article highlighted key issues employers should consider when contemplating compensation reductions for employees and non-employee directors during the COVID-19 pandemic. It further analyzed areas employers should examine before making any compensation-related changes, including the scope of the changes; contractual obligations; deferred compensation considerations; severance, life, disability and retirement benefits; reclassification, overtime claims, constructive discharge and the WARN Act; non-U.S. employees and collective bargaining arrangements; SEC disclosure; and anti-discrimination laws. The article also noted that employers should consider employee messaging, including applicable state and local requirements for employee notices, as well as analyze the legal, tax, and accounting implications when implementing or adjusting compensation programs for employees or non-employee directors.

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