Cleary Gottlieb은 임직원 보수 및 복지 관련 분야에서 발군의 실력을 가지고 있는 것으로 인정받고 있습니다. 저희 회사는 유명 다국적 기업 고객들을 위하여 직원과 회사, 주주의 이해관계의 균형을 이루는 임직원 보수구조를 짜는 업무를 폭넓게 다루고 있습니다. 고객들이 현명하고 전략적으로 안전한 보수구조를 설립할 수 있게 지원함으로써, 저희 회사는 기업들이 기업지배구조상의 문제점을 사전에 예방할 수 있게 합니다. 조세, 증권, 회사법상 대리인, 근로관계 기타 보수구조와 관련된 다양한 법률문제에 종합적으로 접근하는 신중한 자세는 저희 회사로 하여금 더욱 전문적인 자문을 할 수 있게 합니다. 저희 회사는 폭넓은 국제 업무를 하고 있기 때문에 , 특히 해외기업이 미국에서 사업을 할 때 일어날 수 있는 보수구조상의 독특한 문제점을 해결하는 데 강점을 가지고 있습니다.
저희 변호사들은 기업의 연금 적립금 지급의무와 이러한 지급의무를 이행하기 위한 연금자산의 운용이 기업의 재무성과 및 건전성에 매우 중대한 영향을 미친다는 점을 잘 이해하고 있습니다. 저희는 금융기관이 이러한 연금기금에 제공할 수 있는 금융상품을 설계하고 연금자산을 관리하는 것과 관련한 상담업무에 선두적인 실무경험을 보유하고 있습니다. 저희 변호사들은 다양하고 복잡한 금융상품의 어려운 측면을 잘 이해하고 있으며, 연금기금이 이러한 금융상품을 취득할 때 적용되는 법규에 대하여 잘 이해하고 있습니다.
저희는 또한 회사 인수·합병에 수반하는 임직원 보수 협상의 전문가들입니다. 저희는 그러한 거래에서 사모펀드, 경영진 및 전략적 매수인을 대리한 폭넓은 실무경험과 그러한 경험에 따르는 시장관행과 동향에 대한 지식을 보유하고 있습니다. Cleary Gottlieb의 인수합병팀은 국제업무를 광범하게 다루기 때문에 이러한 국제적 인수·합병에서 발생하는 문제에 관하여 다른 법률회사에서는 제공하기 힘든 보수 및 복지 관련 자문을 할 수 있습니다.
저희는 고객들에게 다음과 같은 업무를 지원하고 있습니다:
- 스톡옵션, 보너스 및 이연보상 플랜 등 임직원 보수구조의 수립 및 적용과 고용계약 및 퇴직금 (일명 “황금 낙하산”, golden parachute) 계약 협상
- 회사 인수·합병에서 경영권 및 보수 관련 협상
- 공시, 내부자 거래 등 증권법 측면에서 임직원 보수 관련 자문
- 연기금시장을 상대로 금융기관이 금융상품을 제작, 판매 및 협상하는 업무 지원
- 미국증권거래위원회(SEC), 미국노동부(DOL), 미국국세청(IRS) 및 미국연금보증공사(PBGC) 와 같은 감독기관 상대업무
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Selected Highlights
Executive Compensation and Corporate Governance
- We represent a large and diverse group of domestic public and private companies, including many Fortune 500 corporations, in executive compensation and corporate governance matters, including Abbott Laboratories, Activision Blizzard, Alcoa, Alkermes, Alpha Natural Resources, American Express, American Tower, ANN INC., ArcelorMittal, CARBO Ceramics, Dollar Thrifty Automotive Group, Dow Chemical, General Dynamics, Google, GlaxoSmithKline, Graybar, The Hartford, Hexcel, Honeywell, IMAX, Interpublic Group, Kindred Healthcare, McDonald’s, MDC Partners, Nationstar, OneWest Bank, OpenText, Pall, SABMiller, Sempra Energy, Sony, Southwestern Energy, Tech Data, United Technologies, Verisign, The Washington Post Company, and Whirlpool.
- Counsel to CEOs of Cardinal Health, EADS North America, Foster Wheeler, Hilton, Mast and Omnicare with contract negotiations and other compensation matters.
- Counsel to domestic and international investment banks on executive compensation matters, including regular work for Bank of America, Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, HSBC, ING and Goldman Sachs. We represent each of these banks, along with BNP Paribas, Natixis and others in complying with international executive compensation regulatory reform.
- Counsel to a number of private equity portfolio companies, including Bausch + Lomb, Biomet, Neiman Marcus and Travelocity, in structuring executive compensation and equity incentive programs such as employee tender offers, stock option adjustments and repricings.
- Counsel to Google on the implementation of a transferable stock option (TSO) program as well as other executive compensation measures.
- Counsel to the Securities Industry and Financial Markets Association for the submission of comment letters on the Basel remuneration guidelines as well as the incentive compensation rules of the Dodd-Frank Act, which is applicable to financial institutions.
ERISA Fiduciary Matters
- We are regular counsel to virtually every major financial institution on pension investment matters, including Barclays Capital, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, ING, JPMorgan Chase, Morgan Stanley and others.
- Counsel to the board of directors of Verizon Communications on the purchase of an annuity contract to transfer $7.5 billion in pension obligations owed to existing management retirees.
- Counsel to ING in the filing of an appellate brief before the 11th Circuit in connection with its stock drop litigation.
- Counsel to Bank of America in connection with litigation over hedge fund distribution.
- Counsel to the Union Carbide Corporation Pension Plan in connection with a pension fiduciary claim.
Private Equity and Alternative Investments
- We provide ongoing counsel to private equity firms, such as TPG, EMSO Partners, KKR, Highstar Capital, Helios Advisors, First Reserve and Angelo, Gordon, in connection with the application of the ERISA rules to their investment funds.
- Counsel to Citigroup in the formation of a plan asset hedge fund, the first of its kind established by Citigroup.
- We have structured carried interest arrangements for private equity firms, including TPG, TPG Special Situations Partners and The Raine Group.
- Counsel to a consortium of private equity sponsors in connection with the revision of certain equity-incentive arrangements related to certain senior service providers of Univision Communications.
Mergers and Acquisitions
We contribute to most of the firm’s transactional practices in the United States and abroad, including the public and private M&A and private equity, capital markets, derivatives and structured products, and bankruptcy practices. Recent highlights include acting as counsel to:
- Google in its acquisitions of Motorola Mobility, AdMob, Admeld, Wildfire and ITA Software, and other telecom, media and technology companies
- GlaxoSmithKline in its acquisition of Human Genome Sciences
- Home Depot in its acquisition of Redbeacon
- Warburg Pincus in its acquisition of Endurance
- Bausch + Lomb in its acquisition of Ista Pharmaceuticals
- Biomet in its acquisition of the global trauma business of DePuy Orthopaedics
- Grupo Bimbo in its acquisition of Sara Lee’s North American Fresh Bakery business
- Alpha Natural Resources in its acquisition of Massey Energy
- Warburg Pincus and Vestar Capital Partners in their purchase of a controlling interest in Triton
- Goldman Sachs in the sale of Litton Loan Servicing to Ocwen
- Nortel Networks following its bankruptcy filing in a series of divestitures that included U.S. assets and employees, culminating in the sale of the residual patents business
#1 in Employee Benefits (New York)
The Best Lawyers in America (2010)
“Cleary Gottlieb is widely acknowledged as a standout firm in employee benefits and compensation in New York. The group focuses on transactional work, with notable expertise in M&A and private equity compensation matters…In addition to its deal-based practice, the group advises on ERISA fiduciary matters, and is viewed as a go-to choice in this area for banking giants.”
Chambers USA (2013)
“This group is viewed as a leading light in the employee benefits and executive compensation domain, including ERISA matters. This makes it an attractive choice for high-profile clients … The firm advises investment groups, banks and companies on new regulations surrounding executive pay, disclosure and corporate governance. Recently the firm’s workload has included guidance on high-profile stock-drop cases and multijurisdictional pension plans. … ‘These attorneys are the A-team; we challenge them with complicated investment structures on a daily basis and they handle the work with ease.’”
Chambers USA (2012)
The firm “‘has depth of experience and knowledge, and a strong understanding of the current legal landscape, and provides prompt and timely advice.’ The comprehensive, New York-based EBEC practice spans compensation aspects of M&A, executive compensation and corporate governance, and ERISA fiduciary matters. All four partners practice at the highest level.”
The Legal 500 U.S. (2012)
“Executive compensation remains a pillar of this firm’s practice, as does its ERISA work in the investment space. … ‘This firm is probably the best at what it does in the USA. It's hard to imagine a better group of people.’”
Chambers USA (2011)
“‘Cleary Gottlieb’s highly rated New York EBEC group covers the practice area comprehensively, offering advice and support in regulation, ERISA fiduciary matters, and the compensation aspects of mergers and acquisitions. The 25-strong group, whose members ‘work as extended members of the in-house team,’ provides a ‘combination of technical skills, a practical, problem-solving mindset, and effective communication.’ All four partners practice at the highest level. ’”
The Legal 500 U.S. (2011)
“This New York giant dominates the financial services market and has a leading national practice in the ERISA fiduciary arena. … The group is also skilled in designing compensation arrangements, negotiating employment agreements and advising on the securities law aspects of executive compensation matters.”
Chambers USA (2010)
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