The Golden Parachute payment could have consequences.
An important concept in executive employment agreement, executive compensation is the change in control or “parachute” payments. Many executive employment agreements contain change in control agreements which provide severance or parachute payments after a change in control. However, under the Internal Revenue Code sections 280G and 4999, a parachute payment can have significant adverse tax consequences if it is an “excess parachute payment.” This video reviews this type or executive compensation and the consequences that could come with it.
Raymond L. Hogge, Jr.
- Partner with Hogge Law, where he advises employers across Virginia in all aspects of labor and employment law, and represents them in employment-related litigation, mediation, and administrative proceedings
- Former chairperson of the employment law section of the Virginia Association of Defense Attorneys, a former chairperson of the personnel section of the International Municipal Lawyers Association, a former chairperson of the Continuing Legal Education Committee of the Norfolk and Portsmouth Bar Association, and a member of the labor and employment law section of the Virginia Bar Association
- Hampton Roads Chapter of the Society for Human Resource Management, the Peninsula Personnel Association, Hampton Roads Chamber of Commerce, and labor and employment law section of the American Bar Association
- A frequent speaker on labor and employment law issues and his writings have been published in journals including the International Municipal Lawyers Association's Municipal Lawyer and the Virginia Association of Defense Attorneys’ Journal of Civil Litigation
- He publishes VirginiaLaborLaw.com, a website providing labor and employment law news and information to Virginia employers
- J.D. degree, University of Richmond School of Law; B.A. degree, College of William & Mary
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