- Draft and revise plan documents, rabbi trust documents, award agreements, and deferral elections for nonqualified retirement plans and stock-based compensation arrangements covering Puerto Rico executives and, and if needed, obtain Hacienda private letter rulings addressing their local taxation.
- File incentive stock options (ISOs) and employee stock purchase plans (ESPPs) with Hacienda for their local tax qualification, which is required.
- Draft and revise employment agreements, severance agreements, and incentive programs for Puerto Rico executives.
- Advise companies on the Puerto Rico and United States taxation of officer pay and stock-based compensation arrangements (e.g., FICA taxation under Section 3121(v) of the Code and compliance with Section 409A of the Code).
- Counsel companies on various Puerto Rico labor & employment rules impacting executive compensation in Puerto Rico (e.g., the Unjust Dismissal Act, locally known as Ley 80 or Mesada, and restrictions on payroll withholdings for funding non-ERISA plans).
(787) 900-9956 San Juan, PR • Atlanta, GA
