November 26, 2013
The National Labor Relations Board (Board or NLRB) has applied its “clear and unmistakable” waiver standard in unilateral change cases for several decades.
Waiver Provisions in Executive Compensation Packages Carry Heavy Ramifications: NYE v. Ingersoll Rand Co.
October 10, 2013
The advice that credit union executives should always read a document before signing remains sound, especially in light of a recent court ruling. In Nye v. Ingersoll Rand Co., the court found that executives were entitled to benefits from two different incentive plans that they had enrolled in, despite the claim that their entitlement under the […]
Follow the yellow brick road… Executives of credit unions that participant or seek to participant in a Supplemental Executive Retirement Plan (“SERP”) need to understand the benefit formula of the SERP, the impact that promotions, terminations and career related decisions may have on the calculation of benefits and rights under the SERP. This is particularly […]
In Toohig v. National City Corp. Amended and Restated Management Severance Plan, the court denied severance benefits to a banking executive following a change in control where the plan administrator interpreted the provision to require that the executive actually relocate more than fifty miles. This is a case where an additional condition is being imposed […]