Take a look at the history and development of compensation clawback policies and the current legal requirements on compensation clawbacks in this HR compliance session. The Dodd-Frank Act adds a new section to the federal securities laws entitled "Recovery of Erroneously Awarded Compensation Policy". HR professional must understand this law and react to it.
In the next six months, the U.S. Securities and Exchange Commission will likely issue regulations under Dodd-Frank Act Section 954, and the national securities exchanges, i.e., NYSE and NASDAQ, will require every publicly traded company in America to adopt compensation clawback policy, and delisting of any security of an issuer that does not develop and implement a clawback policy. The Dodd-Frank Act also requires companies to disclose the compensation clawback policy they adopt in their proxy statement.
However, designing a compensation clawback policy may be one of the most difficult and contentious task the board of directors or compensation committee has ever undertaken. In addition to satisfying the legal requirements the board or compensation committee will need to handle executives’ visceral feelings about a policy explicitly designed to take away their compensation. Even before the Dodd-Frank Act, many corporations began to develop and implement compensation clawback policies as part of their efforts to improve corporate governance, particularly following the financial crisis of 2008-2009.
Join Michael Melbinger for this informative 90 minutes session, to know about the evolving best practices in the design and drafting of compensation clawback provisions. Also, in this HR compliance training, Mike will address the complex tax issues raised by the enforcement of compensation clawbacks, critical areas of complicated compensation clawback and much more.
This informative session will cover:
Who should attend?
Mike Melbinger is a partner in the law firm of Winston & Strawn LLP, and global head of the Firm’s Executive Compensation and Employee Benefits Practice. Mike is also an Adjunct Professor of Law at both the University of Illinois College of Law and Northwestern University School of Law. He practic... More info