C. The Board considers it essential to grant the Board of Directors termination indemnities following a change of control that provides the director with greater financial security and encourages the director to remain in the company, regardless of the possibility of a change of control. “Most organizations realize this could happen to them. For example Compaq and HP, Exxon-Mobile, AOL-Time Warner. Leaders insist on clauses and groups admit. Both sides see the logic,” says J. Larry Tyler, president of Tyler & Company, an Atlanta-based executive research firm. The officer and the company intend to ensure that the above definition complies with the requirements of section 1.409A-1(n) of the Treasury Regulations and agree that this definition shall be interpreted in accordance with those requirements. Jen focuses on executive compensation practices and meeting the increasingly complex employment needs of executives in public and private companies. While not negotiating hiring agreements, equity and severance payments, Jen uses her twenty-five years of experience as a court lawyer to help clients develop business solutions to legal issues. Jen who has a av Preeminent Martindale-Hubbell ranking that publishes a highly respected law directory that provides general information about American lawyers and law firms.
“Of course, both economic and non-economic incentives threaten to remain. On the economic side, the manager is faced with the loss of his salary, retirement, vacation pay and other benefits. From a non-economic point of view, the job security of the manager is threatened, as well as professional promotion, which corresponds to seniority and skills, commerciality, professional respect and job satisfaction in a prestigious company. Golden parachutes help compensate for these problems. The golden parachute shifts the risk of eviction from the executive to the company. The payment of the plan is intended to compensate the executive for most of the economic loss and part of the non-economic loss related to forced departure. The executive therefore remains reassured. He or she continues to gain company-specific knowledge and the management team remains efficient and profitable. International Insurance Co., v Johns, 874 F.2d 1447, 1464-65 (11th Cir.1989) (internal citations omitted). (iii) For thirty (30) months after the date of termination (the “Suit Period”), the Employer shall continue at its own expense, on behalf of the Officer and his or her relatives and beneficiaries, the medical, dental, life-related, disability and hospitalization benefits, which were granted at any time to the Executive during the 90-day period preceding the change of control or at any time thereafter (and if, during this period, different benefits that are chosen by the executive or (B) to other managers who need a similar situation and who continue to work in the service of the company during the continuation period.