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Research Center : Article

May 25,2007 | WilmerHale

Severance Pay Under the Final Section 409A Regulations

The IRS recently issued final regulations under Section 409A of the Internal Revenue Code (the Code) related to nonqualified deferred compensation. While the final regulations generally retain the approach taken by the IRS in the proposed Section 409A regulations, the final rules include greater flexibility with respect to severance pay arrangements. This alert summarizes the rules set forth in the final regulations with respect to severance arrangements and provides our recommendations for bringing your arrangements into compliance with the new rules.

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