LIVE REPLAY: Compensation Plans in Closely Held Businesses, Including S Corps and LLCs CLE

LIVE REPLAY: Compensation Plans in Closely Held Businesses, Including S Corps and LLCs

August 2012

LIVE REPLAY: Compensation Plans in Closely Held Businesses, Including S Corps and LLCs

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Teleseminars are midday continuing legal education conferences broadcast over the telephone. From the convenience of your office or home, you are able to dial into an 800 number, and hear nationally recognized practice leaders speak on important issues in the law. You are also able to ask them your

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Program Description:

Closely held businesses, particularly LLCs and S Corps, have special challenges in creating incentive compensation programs for their employees. They do not have the benefit of a liquid and readily valued currency in publicly traded stock. In LLCs, it's difficult to mimic corporate stock or options. In S Corps, it is easy to violate one of the many restrictions on their capital structure imposed by federal law. In both, awarding an actual ownership interest in the entity can trigger a myriad of unanticipated and adverse tax consequences. Yet, closely held businesses need to compete for new, and retain existing, employees with creative incentive compensation. This program will provide you with a real world guide to the alternatives available to your clients, including ownership and non-ownership profit participation and appreciation rights, the major tax trade-offs of each alternative, and common taps for closely held companies in creating these plans.

- Incentive compensation issues in closely held businesses - S Corps and LLCs

- Finding the right balance: Ownership interests v. profit participation rights v. appreciation rights

- Differing considerations for compensation plans of owners v. employees

- Special considerations in exchanging equity for services

- Restricted interests and vesting schedules

- Common traps for closely held companies in creating incentive compensation plans

Faculty:

Leon Andrew Immerman is a partner in the Atlanta office of Alston & Bird, LLP, where he concentrates on federal income tax matters, including domestic and international tax planning and transactional work for joint ventures, partnerships, limited liability companies and corporations. He formerly served as chair of the Committee on Taxation of the ABA Business Law Section and as chair of the Partnership and LLC Committee of the State Bar of Georgia Business Law Section. Mr. Immerman received his B.A., magna cum laude, from Carleton College, his M.A. from the University of Minnesota, and another M.A. and his Ph.D. from Princeton University, and his J.D. from Yale Law School.

Brian J. O'Connor is a partner in the Baltimore office of Venable, LLP, where he is co-chair of the firm's tax and wealth planning group. He provides sophisticated tax and business advice to closely-held and publicly-traded businesses and their owners. Before joining Venable, Mr. O'Connor was an attorney-advisor in the Office of the Chief Counsel of the IRS, where he worked on high profile legislative projects, regulations and other published guidance relating to pass through entities. Mr. O'Connor received his J.D., magna cum laude, from Washington and Lee University School of Law and his LL.M. in tax law, with distinction, from Georgetown University Law Center.