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  • videocam On-Demand
  • card_travel ERISA
  • schedule 90 minutes

Cryptocurrency in Employee Benefits and Executive Compensation Arrangements

$347.00

This course is $0 with these passes:

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Description

Several alternatives are available to companies for providing compensation and incentives to their executives and key employees. As cryptocurrency is increasingly accepted, some employers are considering cryptocurrency as part of compensation and incentive arrangements. However, these arrangements present intricate design, structuring, and tax challenges, including how to structure compensation and incentive arrangements with cryptocurrency, the application of Section 409A and other regulations, and other key items to consider.

Cryptocurrency as compensation or an incentive presents complex design and structuring challenges. Counsel must consider requirements under the Fair Labor Standards Act (FLSA), and state and local wage laws to effectively structure compensation that includes cryptocurrency for key executives and employees. Also, the IRS considers cryptocurrency "property" subject to capital gains tax rates. The IRS issued guidance confirming that any payment to employees in such currency must be reported on a W-2 based upon the currency's value at the time it was delivered to the employee. Therefore, cryptocurrency compensation is subject to income tax and withholdings.

Listen as our experienced panel of executive compensation and benefits practitioners discusses long-term incentive plan design, the pros and cons of compensation programs paying employees in cryptocurrency and other digital assets, IRS and DOL guidance, and other cryptocurrency-related compensation issues.

Presented By

Anne L. Bruno
Member
Mintz Levin Cohn Ferris Glovsky & Popeo PC

Ms. Bruno’s practice involves helping clients create, implement and administer equity and executive compensation arrangements and programs, including equity plans, phantom equity arrangements, incentive plans, deferred compensation plans, change-in-control arrangements, and severance and employment agreements. Ms. Bruno advises and represents a broad range of public and private companies, boards of directors and compensation committees in these matters. She also assists executives with negotiation of their compensation packages, and works closely with senior executives and founders to implement 10b5-1 plans and complex diversification strategies. Additionally, Ms. Bruno has played a significant role in many public offerings, SPAC transactions and merger and acquisition transactions. On the corporate side of her practice, Ms. Bruno leverages her broad-ranging experience to counsel clients on the intricacies of federal securities laws. She advises public companies and registrants in preparing required disclosure filings and shareholder materials, and helps companies develop ESG strategies, consider disclosure requirements of director and executive compensation, understand cybersecurity issues, and address institutional investors and proxy advisory firm considerations. In addition, Ms. Bruno assists companies in implementing and administering a range of policies to address governance obligations, including insider trading, anti-hedging and claw back policies.

Michelle Capezza
Of Counsel
Mintz Levin Cohn Ferris Glovsky & Popeo PC

Ms. Capezza is an accomplished employee benefits and executive compensation lawyer with more than 25 years of experience advising clients on ERISA, benefits, and executive compensation matters, including in connection with corporate transactions. She also brings this knowledge and experience to counsel clients that are digitally transforming their business on the use of automation and artificial intelligence in the workplace and the related implications for employee benefits and compensation for their changing workforce. Ms. Capezza is called to represent Fortune 500 companies, multinational corporations, nonprofit entities, medium-sized businesses, and individual executives across a variety of industries, including financial services, health care, life sciences, technology, artificial intelligence, media, telecommunications, hospitality, and retail.

Timothy S. Klimpl
Attorney
Klimpl Benefits Law, PLLC

Mr. Klimpl is a seasoned attorney with experience providing ERISA advice and related services to a variety of plan sponsors and employee benefit plans, including corporate, nonprofit, multiemployer and governmental plans providing retirement, health, disability, dental and other welfare benefits. In the field of executive compensation, he has assisted both employers and employees with equity and incentive compensation, nonqualified deferred compensation, Section 409A questions, and executive employment and severance agreements. Among other industries, Mr. Klimpl has represented clients in the financial, construction, medical, fashion, real estate and legal industries. He chairs the Fairfield County Bar Association Employment Law Committee.

Timothy Klimpl
Counsel
Carmody Torrance Sandak & Hennessey LLP
Credit Information
  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Wednesday, August 17, 2022

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Overview of IRS and DOL treatment of cryptocurrency
  2. FLSA requirements and DOL rules; the form of payment
  3. State and local wage law considerations
  4. Designing compensation and incentive plans inclusive of cryptocurrency
  5. Best practices for executive compensation and corporate attorneys and retirement plan fiduciaries

The panel will review these and other key issues:

  • What are the critical considerations for including cryptocurrency in a compensation or incentive plan?
  • What is the DOL's position on cryptocurrency investment options in retirement plans?
  • What are the rules and requirements for the form of payment under the FLSA?
  • What are the potential tax ramifications of including cryptocurrency as compensation?
  • How do Section 409A and Section 83 apply?