Option backdating and its implications

09 Dec

Under intrinsic value methods used at the time, companies could issue "at-the-money" stock options without recording any expense on their income statements, as the options were considered to have no initial intrinsic value.

(In this instance, intrinsic value is defined as the difference between the grant price and the market price of the stock, which at the time of grant would be equal).

The consensus was that pooling assets is an easy way for shipowners to reduce costs, as well as to consolidate and capture market share without having to “give up their own toys”.

Indeed, there has been an increased interest in pools recently, with a plethora of companies hoping to capitalise on the advantages of pooling assets in a difficult market.

Viable option “Shipping pools can take a variety of forms, from incorporated entities or partnerships to joint ventures and other forms of agreement,” says Mr Simms.

They want to allocate responsibily for ar­ranging for ship­ping the widgets; insurance; export clearances; and customs. to ensure that any use, disclosure, or copying of Confidential Information, by or on behalf of the Receiving Party or any party receiving Confidential Information from the Receiving Party complies with applicable law, including for example any applicable law concerning (i) privacy or (ii) export controls. (Opinions seem to vary as to whether the term fiduciary relationship and confidential relationship are synonyms; the answer might depend on the jurisdiction. Day, Difference Between Fiduciary Relationships and Confidential Relationships (John Day Legal.com) (citing Tennessee cases).In the same vein, to save time, contract drafters (and reviewers) can consider incorporating selected Common Draft sections, or even entire contract drafts, by reference and specifying any desired variations or modifications — this could be thought of as "drafting by exception" or even as like INCOTERMS on steroids.* * For clarity: The Common Draft project is not sponsored, endorsed by, or otherwise associated with the International Chamber of Commerce, which produces the INCOTERMS® 2010 rules. That's because doing so can result in destruction of the disclosing party's trade-secret rights in its confidential information after the end of the confidentiality period. An obligation to return or destroy Confidential Information might not be practical if (for example) Confidential Information is embodied in a deliverable (for example, custom-developed computer software, or a physical object) that the receiving party will have the right to keep on using; this might be the case in a services agreement.Suggestion: If you incorporate one or more Common Draft provisions by reference, consider using your browser's "Save to PDF" or "Print to PDF" capability to preserve a copy of this deskbook for future reference. Receiving parties, of course, generally prefer to have fixed expiration dates for confidentiality obligations. PRO TIP: Unfortunately, sometimes parties forget about return-or-destruction obligations.One of the major themes to come out of that conference was the difficulties planners face given the uncertainties in the current tax regime and economic environment in the wake of the national elections.As a result of present circumstances, the editors gravitated towards approaches that did not narrowly focus on building wealth or minimizing taxes.Employers: Post Job Descriptions Here Job Seekers: View Open Positions Here The cost of financial ignorance is high.Check out these materials and consider attending one of our free events to learn more about taxes, credit, debt, budgeting, the basics of investing and learning activities for children.I feel the CPE is highly relievent as a majority of the sessions have lecturers who are experts in their field.The online interface that NYSSCPA utilizes is user friendly and allows me to easily sort by topic." Whether you're an employer looking for your next great hire, or a job seeker looking for your next great opportunity, the NYSSCPA Career Center is here to assist you.Although shipping pools might have clear advantages for some, diving in without careful consideration would be a mistake, says Michael Simms, shipping and energy partner at Moore Stephens, global accountancy and consultancy network with its headquarters in London.posted an article called ‘To pool or not to pool’, in which industry experts suggested that pooling assets could provide an easier way to consolidate in the dry bulk market while the future remains fragile.