Somos reconhecidos por nossa atuação na área de remuneração executiva e benefícios empregatícios. Temos vasta experiência na estruturação da remuneração de executivos de companhias multinacionais reconhecidas no mercado, buscando o equilíbrio entre os interesses da companhia, de seus executivos e acionistas. Ao assessorar nossos clientes na elaboração de políticas estratégicas a respeito da estruturação e divulgação da remuneração de seus executivos, também ajudamos a evitar controvérsias relativas à governança corporativa. Nossa abordagem multidisciplinar permite que nossos advogados especializados nesta área também prestem assessoria tributária, securitária, societária, trabalhista e assessoria em outras áreas do direito que impactem benefícios empregatícios e remuneração executiva. Graças à nossa prática internacional, lidamos com questões únicas envolvendo companhias estrangeiras que conduzem seus negócios nos Estados Unidos.
Nossos advogados entendem que as responsabilidades associadas à fundos de pensão, e a forma em que os ativos destes planos são investidos, são vitais à performance financeira da companhia. Somos líderes na assessoria de instituições financeiras na estruturação de produtos que possam ser vendidos à fundos de pensão e na assessoria aos patrocinadores de planos em relação à administração de ativos do plano. Nossos advogados possuem um entendimento único das complexidades de uma vasta gama de produtos financeiros sofisticados oferecidos a fundos de pensão, e as diversas leis que regulam tais produtos.
Também somos líderes na negociação de acordos executivos oriundos de aquisições societárias. Temos experiência extensa na representação de patrocinadores de private equity e times de administração, bem como compradores estratégicos. Adicionalmente, temos conhecimento das práticas e tendências de mercado resultantes de nossa experiência. A atuação do Cleary Gottlieb em operações de fusões e aquisições contribui para com a nossa habilidade de prestar assessoria em relação a remuneração executiva e benefícios empregatícios de maneira única.
Assessoramos nossos clientes:
- Na estruturação e implementação de acordos para remuneração executiva, incluindo planos de bônus e de opção de ações, e na negociação de contratos de trabalho e golden parachute.
- Na negociação de acordos envolvendo a administração de uma companhia, e benefícios correlatos, no caso de fusões e aquisições.
- Em relação a aos aspectos da remuneração de executivos impactados pelas leis de mercado de capitais, incluindo divulgação e insider trading, entre outras.
- No caso de instituições financeiras, na estruturação, oferta e negociação de produtos financeiros para este mercado.
- Lidando com autoridades regulatórias tais como a SEC, DOL, IRS e PBGC.
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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 Corporation, General Dynamics, Google, GlaxoSmithKline, Graybar Corporation, Hartford Financial Group, Hexcel, Honeywell, IMAX, The Interpublic Group of Companies, Kindred Healthcare, McDonald’s, MDC Partners, Nationstar Corporation, OneWest Bank, Opentext, Pall Corporation, SABMiller, Sempra Energy, Sony, Southwestern Energy, Tech Data, United Technologies, VeriSign, The Washington Post Company, and Whirlpool.
- Counsel to U.S. and non-U.S. 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, HSBC, 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 (SIFMA) 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.
- Counsel to CEOs of Cardinal Health, EADS North America, Foster Wheeler, Hilton, Mast and Omnicare with contract negotiations and other compensation matters.
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.
- Advised 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 Capital, EMSO Partners, KKR, Highstar Capital, Helios Advisors, First Reserve and Angelo, Gordon Capital, 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 Capital, 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, 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 International Group; Bausch + Lomb in its $500 million acquisition of Ista Pharmaceuticals; Biomet in its offer to acquire the global trauma business of DePuy Orthopaedics, a Johnson & Johnson company; Grupo Bimbo in its acquisition of Sara Lee’s North American Fresh Bakery business; J.P. Morgan Ventures Energy Corporation in its acquisition of RBS Sempra Commodities’ energy commodities operations; Alpha Natural Resources in its merger with Massey Energy; Warburg Pincus and Vestar Capital Partners in their purchase of a controlling interest in Triton Container International Limited; Kindred Healthcare in its acquisition of RehabCare; and Goldman Sachs in the sale of Litton Loan Servicing to Ocwen Financial.
- Represented Nortel Networks following its bankruptcy filing in a series of divestitures that included US assets and employees, culminating in the sale of the residual patents business.
#1 in Employee Benefits (New York)
The Best Lawyers in America (2010)
“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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