As part of the employment contract that should accompany a restrictive executive bonus arrangement, a repayment clause should be included that specifies that if the executive fails to meet his employment obligations, some or all of the bonuses would be repaid to the employer. A vesting schedule is normally used to accomplish this obligation. However, vesting should not make direct references to the policy’s cash value, or the arrangement could be defined as a split dollar loan regime plan, which could trigger adverse tax consequences.
If you have a little money, maybe you can use it to reach clients with big money.
Samuel Descovich will lead products and solutions in the Americas and work on expanding the ESG lineup.
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