California Employment Law Update

Tag Archives: extraordinary payments

Company’s Proposed Payments To Corporate Officials Were Subject To Retention Under Sarbanes-Oxley Act

SEC v. Gemstar-TV Guide Int’l, 401 F.3d 1031 (9th Cir. 2005) (en banc) As part of its announced plans to restructure its management and corporate governance, Gemstar-TV Guide entered into negotiations for termination agreements with its CEO and CFO. The CEO’s termination agreement provided for a “termination fee” of $22.45 million, an additional $7.03 million … Continue Reading

Company’s Proposed Payments To Corporate Officials Were Not Subject To Retention Under Sarbanes-Oxley Act

SEC v. Gemstar-TV Guide Int’l, 367 F.3d 1087 (9th Cir. 2004) As part of its announced plans to restructure its management and corporate governance, Gemstar-TV Guide entered into negotiations for termination agreements with its CEO and CFO. The CEO’s termination agreement provided for a “termination fee” of $22.45 million, an additional $7.03 million in unpaid … Continue Reading
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