A 2nd Chance For Employers To Avoid 409A Violation

Law360, New York (October 1, 2012, 1:15 PM EDT) -- Many severance and other compensation arrangements provide for payment only if and when the employee signs a release of claims and the release has become irrevocable.

For a general release of claims to be valid under federal employment law, the employer may be required to give the employee a specified number of days to consider the release and, then, an additional period of time in which to revoke the release after signing it.

Release Contingency Provisions As Currently Drafted May Violate Section 409A, Resulting in Tax...
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