For nearly two decades Marc has been providing practical solutions for clients on matters relating to all aspects of employee benefits.  His current focus is primarily on tax, securities, corporate and accounting issues related to executive and equity compensation arrangements.

He works with publicly traded, private, non-profit and government clients in the design, implementation and operation of domestic and international executive nonqualified and supplemental deferred compensation plans, as well as equity-based and other long-term incentive compensation arrangements.

Marc also assists clients in drafting and negotiating executive employment, retention, change in control and severance agreements and programs. He regularly advises clients regarding handling employee benefit matters in corporate mergers, acquisitions, divestitures, initial public offerings and other corporate transactions.

Marc was recently quoted in the Law360 article “TCJA Private Company Pay Change May Not Have Broad Appeal” covering the potential impediments for private companies to grant section 83(i) qualified equity grants which allow employees an election to defer federal income tax on qualifying stock options and restricted stock units. He also provided commentary in the article “6 Months In, Stock Option Deferral Rule Not Catching On” for the June 25, 2018, edition of Tax Notes.

Recent client representations include:

Executive Compensation

• Prepared omnibus incentive plan, grant agreements, Form S-8, 10(a) prospectus and shareholder proposal for proxy of NASDAQ traded national discount retail store with over $9 billion in annual gross sales.
• Provided legal counsel and project management for restatement of employee stock purchase plan (“ESPP”) to expand eligibility to foreign subsidiaries of a Fortune 500 automotive retailer.
• Provided legal advice regarding non-qualified stock purchase plan for national grocery chain.
• Prepared elective account balance nonqualified deferred compensation plan (“DCP”) for NASDAQ traded electronics measurement company.
• Prepared supplemental executive retirement plan for banking industry CEO.
• Amended DCP of NYSE life sciences company to permit deferral of equity compensation awards.
• Prepared CD&A for regional financial institution.
• Provided legal advice re CD&A for NASDAQ traded fix-price discount retailer.

M&A

• Represented management shareholders in acquisition of, and co-investment in, aging & independent living solutions company.
• Provided legal advice and due diligence regarding employee benefit and executive compensation matters for national fixed-price discount retailer’s $10 billion acquisition of competitor national discount retailer.
• Provided legal advice and due diligence regarding employee benefits and executive compensation for international computer security company’s $220 million acquisition of mobile security device company.
• Provided legal advice and due diligence regarding employee benefits for global software and services company, with approximately $1.75 billion in sales, in acquisition of supplier of emulation platforms.

Qualified Retirement Plans

• Prepared determination letter application for pension plan of California non-profit hospital.
• Provided legal advice to national cosmetic chain regarding merger of 401(k) plan of acquired cosmetic manufacture.
• Prepared summary plan description and 10(a) prospectus for employer stock fund offered in 401(k) plan of NYSE traded global household products company.

Income Tax Reporting and Withholding

• Prepared legal opinion for California city regarding potential liabilities for failure to properly withholding employment taxes and steps to correct failures under federal and state law.
• Provided legal advice regarding correction of late FICA withholding for payment under defined benefit nonqualified deferred compensation plan.
• Provided legal advice regarding tax withholding and reporting of payments from nonqualified deferred compensation plan assigned to alternate payee under domestic relations order.

RECENT PUBLICATIONS

• Tax-Exempt Organizations Face New Tax Penalty on Excess Compensation — Due Diligence and Minimization
• New Section 83(i) of the Internal Revenue Code — Qualified Equity Grant Programs Permit Employees to Elect to Defer Income Taxes on Stock Options or RSUs
• Tax Reform Provisions Affecting Employer-Provided Compensation and Benefits
• Section 409A Relief for Tax Payments from Section 457A Plans
• UPDATE: Latest Senate Markup of the “Tax Cuts and Jobs Act” Strikes Provisions that Would Have Drastically Changed Nonqualified Deferred Compensation Arrangements, While Retaining Revisions to 162(m) Limits on Executive Pay
• Executive Compensation Programs Are Still on the Chopping Block in Senate Version of “Tax Cuts and Jobs Act”
• Nonqualified Deferred Compensation Plans May Need to Be Updated for Revised Claims Regulations Relating to Disability Determinations
• Newly Issued 457(f) Proposed Regulations Clarify Rules for Nonqualified Deferred Compensation Provided by Non-Profit and Governmental Entities
• Reproposed Regulations on Financial Institution Incentive-Based Compensation Expand Definition of Covered Institutions and Require Significant Changes to Incentive-Based Compensation Arrangements
• Discourage Costly Stockholder Derivative Lawsuits by Obtaining Stockholder Ratification of Reasonable Limits on Non-Employee Director Equity and Cash Compensation

RECENT PRESENTATIONS

• WEBINAR: What Employers Need to Know About the Tax Cuts and Jobs Act
• Compensation Planning for Non-Profits and Governmental Entities—Newly Issued Code Section 457(f) Proposed Regulations Offer Clarity and New Opportunities in Designing Executive Compensation
• Compensation Planning for Tax-Exempt Entities: Navigating IRC Section 457(f)