TREASURY AND IRS ISSUE FINAL REGULATIONS FOR GOLDEN PARACHUTE PAYMENTS

From: Regulatory Intelligence Data | Date: August 1, 2003| Author: INDSTRY GROUP 99 | Copyright information


Regulatory Intelligence Data

08-01-2003

Today, the Treasury Department and the IRS issued final regulations
for "golden parachute payments." Treasury and IRS also issued a new revenue
procedure for valuing stock options that are treated as golden parachute
payments.
Under the Internal Revenue Code, a company cannot deduct "excess"
golden parachute payments, and an executive has to pay a 20-percent excise
tax on the payments. A golden p...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and journal articles from HighBeam Research

2 Parlux parachutes draw fire. (Ilia Lekach, Parlux Fragrances Inc. stockholder, protests golden parachute payments for 2 executives)
WWD ; 2 PARLUX PARACHUTES DRAW FIRE WASHINGTON (FNS) - Golden parachutes for two executives at Parlux Fragrances, Inc., are excessive and should not be paid in the event of their removal from the board, claims shareholder Ilia Lekach, who is attempting to oust three of the firm's directors. Lekach, owner
A GIANT GOLDEN PARACHUTE IS HARD TO HIDE.(News)
Seattle Post-Intelligencer (Seattle, WA) ; Byline: JOEL CONNELLY P-I columnist JUST AS A MAJORITY of Himalayan climbing deaths come on the descent, casualties in public life seem to pile up at the time of leave-taking - whether with a golden parachute or getting pushed from the plane. The firing of eight highly regarded U.S. attorneys has
Bonfield's golden parachute.
Sunday Business (London, England) ; Bonfield's golden parachute BT has rewritten the contract of Sir Peter Bonfield, its embattled chief executive, to grant him a golden parachute worth more than [pound]5m if it is taken over or merges. A termination clause in his recent contract, kept in the group's City head office and seen by The
P-VH board okays 2 golden parachute plans. (Phillips-Van Heusen Corp.)
Daily News Record ; P-VH Board Okays 2 Golden Parachute Plans NEW YORK (FNS) -- Phillips-Van Heusen Corp. said Friday that its board had approved two golden parachute plans for top executives totaling $45 million. The first plan, which covers 16 top P-VH executives, provides for a maximum of $16 million for lump-sum
Budget offers `golden parachute' to 50 trial judges
The Boston Globe ; A slew of judges will get a special "golden parachute" if Gov. Weld agrees to several budget initiatives, one of which allows them to retire at age 55 with a $60,000 a year pension, more than six times the average state worker's retirement. The proposal is being sold by the judiciary as an effort
'Golden parachute' strikes again.(Commentary/Editorial)
Rocky Mountain News (Denver, CO) ; Byline: Roy M. Cantrell, Aurora It constantly amazes me to read about the millions of dollars some people in business or sports have made (or are making) when they have failed miserably in their profession or job.The average Jack or Jill had better be at least mediocre or else they will be out of a
MCCLURE GIVEN $145,000 `GOLDEN PARACHUTE'
The Record (Bergen County, NJ) ; ... 000 `GOLDEN PARACHUTE' -- BCUA HEAD TO STEP DOWN IN JANUARY By HUGH R. MORLEY, Staff Writer Date: 07-23-1994, Saturday Section: NEWS Edition: All Editions -- Two Star B, Two Star P, One Star Biographical: LARRY McCLURE The turbulent 5 1/2-year tenure of Bergen ...
'Golden parachute' strikes again
Rocky Mountain News (2007-Current) ; It constantly amazes me to read about the millions of dollars some people in business or sports have made (or are making) when they have failed miserably in their profession or job.The average Jack or Jill had better be at least mediocre or else they will be out of a paycheck.We hear about most
OFFER A GOLDEN PARACHUTE TO CLINTON.(EDITORIAL)
The News & Record (Piedmont Triad, NC) ; Bill Clinton, on numerous occasions has stated, as commander in chief, he is entitled to privileges accordingly. Accordingly, he should be listed with all the other military personnel being charged with sexual misconduct. To encourage Bill Clinton to resign, I would suggest he be offered a golden
Galia Maor's contract extended by three years: The maximum cost of the Bank Leumi president and CEO's golden parachute is NIS 4.64 million.
Globes (Tel Aviv, Israel) ; ... longer than its legendary CEO Ernest Yefet. Copyright (c) 2007, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune Business News. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write ...