Cryptocurrency in Employee Benefits and Executive Compensation Arrangements
Note: CPE credit is not offered on this program
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will provide executive compensation and corporate attorneys, and ERISA retirement plan fiduciaries, with an in-depth analysis of the challenges, risks, and planning considerations for providing compensation in cryptocurrency in executive compensation arrangements, and access to cryptocurrency investment options in retirement plans. The panel will discuss long-term incentive plan design, the pros and cons of compensation programs that pay employees in cryptocurrency and other digital assets, IRS and DOL guidance, and other cryptocurrency-related compensation issues.
Outline
- Overview of IRS and DOL treatment of cryptocurrency
- FLSA requirements and DOL rules; the form of payment
- State and local wage law considerations
- Designing compensation and incentive plans inclusive of cryptocurrency
- Best practices for executive compensation and corporate attorneys and retirement plan fiduciaries
Benefits
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?
Faculty
Anne L. Bruno
Member
Mintz Levin Cohn Ferris Glovsky and Popeo
Ms. Bruno’s practice involves helping clients create, implement and administer equity and executive compensation... | Read More
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.
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Michelle Capezza
Of Counsel
Mintz Levin Cohn Ferris Glovsky and Popeo
Ms. Capezza is an accomplished employee benefits and executive compensation lawyer with more than 25 years of... | Read More
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.
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Timothy S. (Tim) Klimpl
Counsel
Carmody Torrance Sandak & Hennessey
Mr. Klimpl is a seasoned attorney with experience providing ERISA advice and related services to a variety of plan... | Read More
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.
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