February 5, 2008
Norris McLaughlin, P.A.
P.O. Box 1018
Somerville, NJ 08876-1018
Contact: Edward C. Miller, Jr.
Chief Marketing Officer
(908) 722-0700, X-4224
SOMERVILLE, NJ and NEW YORK, NY – David T. Harmon and Charles A. Bruder, attorneys with the law firm Norris McLaughlin, P.A., headquartered in Somerville, have been named co-chairs of the firm’s Executive Compensation & Employee Benefits Group.
The Executive Compensation & Employee Benefits Group brings a wealth of experience and knowledge to both employers and professionals in a wide range of industries. The Group addresses the legal ramifications, regulatory compliance and income tax issues associated with the implementation and administration of employment agreements, severance arrangements, qualified and non-qualified employee benefits plans and equity-based incentive compensation arrangements.
Attorneys in this Group regularly counsel professionals in a wide range of industries in all aspects of employment arrangements, including the negotiation and drafting of employment agreements, and advising such individuals on income tax implications of stock option plans, variable compensation plans, phantom stock plans and other forms of incentive compensation, including the tax elections available to such professionals. They are experienced in all aspects of preparing and negotiating severance arrangements following an employment change or personnel downsizing.
In addition, the Executive Compensation & Employee Benefits Group provides legal and tax counsel to both not-for-profit and for-profit companies and organizations which are seeking to recruit and retain top executives and key employees by advising such employers in all aspects of executive compensation and employee benefits, including defined benefit and defined contribution plans, deferred compensation arrangements, life and medical insurance programs, and welfare benefit plans. The Group is experienced in providing counsel to clients with respect to claims for withdrawal liability from multi-employer pension plans, including representation during arbitration proceedings and litigation, and providing critical guidance concerning important tax matters such as Internal Revenue Code Section 409A compliance for deferred compensation plans and Code Section 280G considerations for “parachute payments.”
Harmon focuses his practice on the areas of executive compensation, employment and business law, including representation of institutions of higher education. He is the Co-Chair of the firm’s Executive Compensation & Employee Benefits Group. He represents senior-level employees of both public and private companies in the negotiation of their employment packages and all associated agreements, whether at the commencement of the employment relationship or at termination. His successful negotiation of employment and severance packages for clients includes addressing all aspects of employment and post-employment compensation, respectively, and structures and strategies for those packages. His representation also includes providing advice and counsel to employers in the negotiation of employment and severance packages with their employees, and the design of compliance programs, including employee policy manuals, and counseling and training concerning implementation of those policies.
Harmon represents institutions of higher education through extensive work as their outside general counsel. His work for these clients involves contract preparation and negotiation for licensing, grants, consulting, construction, real estate, and general corporate matters, including the design of strategies to maximize collections and coordination of department practices, procedures, and documentation relating to these strategies. He also represents small and medium-sized companies in all of their general corporate and transactional matters.
Harmon is a member of the Board of Directors of the Wall Street Technology Association, and he is a member of the Business Law and Labor & Employment Sections of the New York State and American Bar Associations. He has published many articles and frequently speaks on various legal topics. Harmon and Bruder recently co-authored a chapter entitled “Perspectives for Management and Executives on Structure and Negotiating the Package: It’s Not Just About the Dollar” for a soon-to-be-released book entitled Inside the Minds: Employee Benefits and Executive Compensation Plans for Aspatore Books, a Thomson Business Publisher.
Harmon works out of the firm’s New York office.
Bruder concentrates his practice in the areas of employee benefits and executive compensation. Bruder is experienced in all aspects of defined contribution and defined benefit plans, deferred compensation arrangements, stock option plans, employee stock ownership plans, and other incentive and equity-based compensation arrangements. He frequently counsels clients in the areas of plan qualification and administration issues, ERISA fiduciary matters, plan compliance issues, and employee benefits matters in the context of business reorganizations. In addition, Bruder is knowledgeable in the handling of group health plans, cafeteria plans, and other health and welfare benefits arrangements. He is also experienced in the areas of executive compensation, stock option planning and wealth succession planning.
Prior to commencing his legal career, Charles was a senior tax consultant for a “Big 5” accounting firm, providing tax consulting and financial planning services primarily to corporate executives and high net-worth individuals.
Bruder is a frequent lecturer in the area of employee benefits and has previously published articles in The Exempt Organizations Tax Review and the New Jersey Law Journal. He is a member of the American Bar Association, Division of Taxation. He received his B.A. from LaSalle University, his J.D. from Widener University School of Law and his LL.M. from Georgetown University Law Center.