The compensation package of Eugene Isenberg, former CEO and now chairman of Nabors Industries, Ltd., including a proposed $100 million termination payment, illustrates the far extreme of executive compensation. While institutional shareholders brought suit to challenge his compensation, wasn’t there due diligence before investments were made?… Read More
Great title for the Wall Street Journal‘s article “Wall Street Pay Gets Even Trickier to Figure” — executives be wary as company consider modifying deferred comp arrangements. If not done properly, IRS Code 409A liability can be triggered with the executive bearing the unintended financial responsibility.
This post was co-authored by Charles A. Bruder, a Member of Norris McLaughlin & Marcus and Co-Chair of its Executive Compensation & Employee Benefits Group.… Read More
According to the Wall Street Journal, Morgan Stanley plans to significantly reduce bonuses and will defer cash payouts over $125,000 until the end of 2012, noting that “[s]ome top executives will receive nothing now, deferring their 2011 payouts until the end of this year.” Deferred compensation is becoming more prevalent in similar situations where companies do not have adequate cash on hand.… Read More