Lawyers in the Employee Benefits & Executive Compensation Practice primarily focus on share-related incentives and pensions.

Many clients of the firm are companies which seek to incentivise their employees by providing benefits packages which include the opportunity to share in the growth of the company by becoming shareholders, or by earning cash bonuses linked to the growth in value of the company. Our lawyers advise on the design and implementation of these incentive arrangements, often on an international basis. The areas of law which impact in this area include tax, employment, corporate and securities law, and corporate governance and best practice issues also have to be addressed.

Pensions are another important long-term benefit for employees. The organisation and funding of pension schemes is very complex and can impact on a range of other activities, such as corporate transactions. Our lawyers advise on all issues relating to the management and funding of pension schemes and often work closely with others in the corporate, employment, restructuring and litigation groups.

Examples of recent transactions include:

• The Dana companies – advising the UK companies in this worldwide group following the bankruptcy of its US parent. The restructuring of the UK companies focussed on the pension liability and involved liaising with pension schemes, trade unions, creditors and the pension authorities to reach a deal which saved the business.
  
  
• Ted Baker plc – advising the company on the implementation of its share option and performance share plans for executives and staff and, recently, on securing the approval of the company's shareholders to the continuation of these plans.
  

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Anna Copestake
King's College London, Law

Working for the Employee Benefits & Executive Compensation Practice has allowed me to experience impressive levels of responsibility and a strong support network in this technical and ever evolving area of law. I have found the work both academically challenging and highly commercial.

My work has ranged from technical drafting when amending trust deeds and rules to considering the commercial impact of pension issues on corporate transactions. The specialist nature of the practice has enabled me to draft and negotiate parts of sale purchase agreements on high-value acquisitions that otherwise I may not get to experience. I have been able to work for both corporate clients and trustees and have worked on applications and negotiations with both the Pensions Regulator and the Pension Protection Fund. After only a year at the Firm, this practice has given me more experience than I could have ever anticipated in this area of the law.

An achievement that I am most proud of took place whilst working for this practice. Jones Day represented Dana Corporation during the chapter 11 proceedings in relation to its US companies and a restructuring involving its UK subsidiaries. This was one of the first restructuring deals of its kind in the UK, and the quality of work and level of responsibility I were given were second to none.

I have enjoyed developing working relationships and friendships with colleagues from all practices and global offices. The specialist nature of this practice and its dominance in many transactions means that our expertise is required from various colleagues on a day-to-day basis and is often a pivotal aspect of a deal. I really feel a part of this friendly and close-knit group. They have placed their trust in me by encouraging high levels of client contact and the provision of advice to colleagues within the Firm. In addition, my desire to further my knowledge in this area of the law is fully encouraged, and I have been provided with opportunities to attend courses , assist in writing articles and give talks on the subject.

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