Executive Compensation Litigation John L Utz www utzmiller

Executive Compensation Litigation John L. Utz www. utzmiller. com

Executive Compensation Litigation v. Stock Option Backdating § Ryan v. Gifford (Del. Ch. 2007) – p. 27 and Newsletter Vol. 3 No. 4. The court was “convinced that the intentional violation of a shareholder-approved stock option plan, coupled with fraudulent disclosures regarding the directors’ purported compliance with that plan, constitute conduct that is disloyal to the corporation. . ” www. utzmiller. com

Executive Compensation Litigation v Spring-Loaded Options § In re Tyson Foods, Inc. (Del. Ch. 2007) – p. 32 and Newsletter Vol. 3 No. 4. Allegations that “directors that approved spring-loaded (or bullet-dodging) options (a) possessed material nonpublic information soon to be released that would impact the company’s share price, and (b) issued those options with the intent to circumvent otherwise valid shareholderapproved restrictions upon the exercise price of the options” would satisfy the plaintiff’s requirement to show adequately at the pleading stage that a director acted disloyally and in bad faith and is therefore unable to claim the protection of the business judgment rule. www. utzmiller. com

Executive Compensation Litigation v. Clawbacks § In re Tyson Foods, Inc. (Del. Ch. 2007) – p. 32 § Scrushy v. Tucker, 2006 WL 932013 (Ala. 2006) § FPL: Settlement following Klein v. FPL Group, Inc. , 2004 WL 302292 (S. D. Fla. 2004) § Olander v. Compass Bank (5 th Cir. 2004) – Newsletter Vol. 1 No. 1 www. utzmiller. com

Executive Compensation Litigation v. Clawbacks (cont. ) § World. Com, Inc. v. Boyne (4 th Cir. 2003) – p. 96 § International Business Machines Corp. v. Martson, 37 F. Supp. 2 d 613 (S. D. N. Y. 1999) § International Business Machines Corp. v. Bajorek, 191 F. 3 d 1033 (9 th Cir. 1999) § Foley v. American Electric Power (S. D. Ohio 2006) – Newsletter Vol. 2 No. 9 www. utzmiller. com

Executive Compensation Litigation v. Clawbacks (cont. ) § ERISA Plans: Importance of top-hat status (to avoid vesting requirements) § Thornton Oil Corp. v. Perconti (Ky. App. 2003) – p. 46 § Fields v. Thompson Printing Co. , Inc. (3 d Cir. 2004) – p. 46 www. utzmiller. com

Executive Compensation Litigation v Fiduciary Claim: Disclosure, Treatment of Backdated Options in Merger § Louisiana Municipal Police Employees’ Retirement Systems v. Crawford, 918 A. 2 d 1172 (Del. Ch. 2007) v Stock Options: Blackout Necessary Under Securities Laws § In re Cendant Corp. Securities Litigation (3 d Cir. 2006) – Newsletter Vol. 3 No. 2 www. utzmiller. com

Executive Compensation Litigation v Attorney-Client Privilege: Top-Hat Plan § Marsh v. Marsh Supermarkets, Inc. (S. D. Ind. 2007) – p. 43 v SERP Compensation Definition: Stock Option Gains § Adams v. Louisiana-Pacific Corp. (4 th Cir. 2006) – p. 50 www. utzmiller. com

Executive Compensation Litigation v SERP Compensation Definition: Severance Pay § Gilliam v. Nevada Power Company, 2007 WL 1557483 (9 th Cir. 2007) v SERP Compensation Definition: Retention Compensation § Craig v. The Pillsbury Non-qualified Pension Plan (8 th Cir. 2006) – p. 52 www. utzmiller. com

v Top-Hat Plan: Definition § Bakri v. Venture Mfg. Co. (6 th Cir. 2007) – p. 56 § Guiragoss v. Khoury (E. D. Va. 2006) – p. 56 v Top-Hat Plan: Release, Fiduciary Claims, Estoppel § Callahan v. Unisource Worldwide, Inc. (D. Conn. 2006) – p. 57 www. utzmiller. com

Executive Compensation Litigation v Top-Hat Plan: Retroactive Addition of Exhaustion of Remedies Requirement § Eastman Kodak Company v. STWB, Inc. (2 d Cir. 2006) – p. 58 v Oral Promise: ERISA Fiduciary Claim, Equitable Relief § Eastom v. Redmond (N. D. Ind. 2006) – p. 60 www. utzmiller. com

Executive Compensation Litigation v Oral Grant of Options § Aretakis v. General Signal, Inc. (D. Mass. 2006) – p. 70 v State Wage Payment Statutes § Paolini v. Albertson’s Inc. (9 th Cir. 2007) – p. 80 v Stock Options: Failure to Tender Payment with Exercise Notice § Deal v. Consumer Programs, Inc. (8 th Cir. 2006) – p. 81 www. utzmiller. com

Executive Compensation Litigation v Stock Option Vesting: Acceleration Upon Termination, Share Price Trigger § Ziegler v. HRB Management, Inc. (6 th Cir. 2006) – p. 82 v Employer’s Ability to Modify Retiree Welfare Benefits § Markowitz v. Celanese Corp. (D. N. J. 2006) – p. 84 www. utzmiller. com

Executive Compensation Litigation v Covenants Not to Compete § Morris v. Schroeder Capital Management International (2 d Cir. 2007) – p. 91 v Separation Agreement: Characterization of Termination, Equity Compensation, Fraud § Healy v. MCI World. Comm Network Services, Inc. (9 th Cir. 2007) – p. 102 www. utzmiller. com

Executive Compensation Litigation v Severance: Outsourcing, Prior Employer’s Representations § Engler v. Cendant Corp. (E. D. N. Y. 2006) – p. 104 v Garnishment of Retirement Benefits: Criminal Restitution § U. S. v. Novak (9 th Cir. 2007) – p. 105 www. utzmiller. com

Executive Compensation Litigation v Split Dollar Life Insurance: Employer’s Rights Extinguished by Employment Release § Goldring v. Franklin Equity Leasing Co. (Mo. Ct. App. 2006) – p. 106 v Severance Benefits: Change of Control, Comparable Benefits § Kolkowski v. Goodrich Corp. (6 th Cir. 2006) – p. 106 www. utzmiller. com

Executive Compensation Litigation v Stock Options: Negligent Misrepresentation, Period for Exercise § First Marblehead Corp. v. House, 473 F. 3 d 1 (1 st Cir. 2006) v Waste: Entrenchment of Board and Key Executives § Sample v. Morgan, 40 EBC 2389 (Del. Ch. 2007) www. utzmiller. com

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