This short summary notes that IRC Section 409Ais now effective (actually as of January 1, 2009). While there are number of well-known types of deferred compensation that are subject to 409A, there is one area where the exact application of the law can be confusing even to those who specialize in general corporate practice.Incentive stock…
Read MoreNet operating losses, or NOLs, accumulate when a business has tax losses in a given year rather than profits. They are typically carried back to earlier profits but may be accumulated in as carry-forwards for up to 20 years. Sirius, after recently merging with XM, has an unfortunate asset: accumulated NOLs of about $6 billion.…
Read MoreFootnoted, a regular read for us, recently found some great references to intra-board conflict resolution, or the lack thereof. This memo by director Thomas Hallagan explains several of the reasons he decided to leave the board of Amerisafe at the expiration of his term. We’ve heard similar comments from directors at other companies, although not…
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