What is the name of your state? Indiana
Section 280G requires 75% shareholder approval for certain corporations to avoid treatment under 280G and 4999 for golden parachute payments. Does anyone have practice suggestions for what to do when that approval is received, and then the composition of the shareholders changes over time before the change in control occurs that triggers the golden parachute...so that in effect the 75% that originally approved the plan is then made up of different shareholders who did not approve the plan. Thanks for any help.
Section 280G requires 75% shareholder approval for certain corporations to avoid treatment under 280G and 4999 for golden parachute payments. Does anyone have practice suggestions for what to do when that approval is received, and then the composition of the shareholders changes over time before the change in control occurs that triggers the golden parachute...so that in effect the 75% that originally approved the plan is then made up of different shareholders who did not approve the plan. Thanks for any help.