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Exploring The Alternate Universe of Nonqualified Deferred Compensation Plans

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With Guests:
Will Tysse,
Partner, Co-Chair Employee Benefits & Executive Compensation Practice
McGuireWoods
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Taylor French,
Partner, Co-Chair Employee Benefits & Executive Compensation Practice
McGuireWoods
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G. William Tysse - Will is co-chair of the McGuireWoods employee benefits and executive compensation group. He focuses his practice on employee benefits and executive compensation. He has extensive experience advising public, private and nonprofit clients on all aspects of non-qualified deferred compensation arrangements, including excess and supplemental retirement plans, cash and equity incentive plans, and employment and severance agreements.

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He is particularly experienced with Section 409A requirements, and regularly advises clients in other areas of executive compensation law, including Section 162(m), Section 280G, the SEC’s executive compensation proxy disclosure rules and the executive compensation aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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He also advises clients on the tax and securities law aspects of stock option plans, including incentive stock options and employee stock purchase plans. He has experience advising clients on the tax and ERISA-related aspects of qualified retirement plans, including 401(k) plans and employee stock ownership plans, health and welfare plans and other fringe benefits. 

Will is a co-author of a BNA portfolio on compensation committees.

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Taylor French - Taylor is co-chair of the McGuireWoods employee benefits and executive compensation group. His employee benefits practice covers a wide-range of traditional executive compensation and employee benefits matters along with a variety of inter-disciplinary practice areas and industries that are affected by executive compensation and employee benefits laws.

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Taylor regularly works with clients to design, implement and maintain equity compensation plans, long-term incentive plans, bonus programs and non-qualified deferred compensation arrangements for executives, employees and non-employee directors. He also advises and represents executives, boards of directors and compensation committees in the negotiation and drafting of employment, severance, retirement, termination and change in control agreements. Taylor also has extensive experience advising clients on the impact of Code Section 409A on executive compensation arrangements and has assisted clients utilize IRS programs to correct plan deficiencies or operation errors. 

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In connection with his executive compensation practice, Taylor frequently counsels compensation committees of publicly-traded clients on the Dodd-Frank financial reform laws and regularly assists with the drafting and preparation of proxy statements and other SEC filings related to executive compensation matters.

Recap, Highlights, and Thoughts

Today we take leave the world of 401(k) plans and enter the parallel universe of nonqualified deferred compensation (NQDC) plans.  This is a new topic on the podcast and was happy to have Will Tysse and Taylor French, Partners and co-chairs of the employee benefits and executive compensation practice at the law firm McGuireWoods join me.  This is a broad topic so we started picking away at it by discussing why employers start nonqualified plans, how they are similar and different from 401(k) plans and some pitfalls to be aware of right out of the gates.  There is also some discussion of a Rabbi.  

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If you have been enjoying the podcast please mention it to a friend, share on social media or leave a review on Apple Podcasts or your favorite podcast app.  All of that goes a long way to help grow our audience, attract high-quality guests and keep sharing high-quality timely content.  

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Thanks for listening!​​

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Sincerely Your Host, 

Rick Unser

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