| Biography:
Lisa A. Berkowitz Herrnson is a senior associate in Proskauer's Tax Department, resident in the firm's New York office. She practices in the field of employee benefits and executive compensation law.
Lisa has been practicing in the employee benefits field since 1990, counseling clients on all aspects of pension and welfare benefit plans. Lisa advises clients on the design, implementation and operation of 401(k), profit-sharing, defined benefit, money purchase and employee stock ownership plans, as well as cafeteria plans, flexible spending account programs and severance plans. She counsels on compliance with ERISA, the Internal Revenue Code, and other laws affecting employee benefit plans, as well as issues concerning plan administration, qualification requirements, fiduciary issues and prohibited transaction issues. Lisa has represented clients in a diverse array of businesses, including Fortune 500 companies, financial services companies, consulting firms, privately held companies and tax-exempt organizations.
With respect to tax-exempt organizations, Lisa provides advice concerning the specific plans and requirements applicable to such organizations, including Section 403(b) plans, Section 457(b) plans and Section 457(f) arrangements. She also has extensive experience with respect to controlled group analysis, including the unique issues which apply to tax-exempt entities.
In the executive compensation area, Lisa advises clients in connection with employment agreements, deferred compensation plans, supplemental executive retirement plans, long term incentive plans and rabbi trusts, including compliance with Section 409A. She also advises corporations on matters concerning stock options, restricted stock and other types of equity awards.
In connection with corporate mergers and acquisitions, Lisa analyzes compensation benefits issues and drafts and negotiates key benefits provisions, including provisions involving "golden parachute" tax issues; controlled groups; overfunded and underfunded defined benefit plans; post-retirement health and welfare liabilities; severance obligations; and COBRA obligations.
Lisa graduated from Fordham University School of Law and received her undergraduate degree in accounting from the State University of New York at Binghamton.
Lisa is a member of the American Bar Association, Section of Taxation, and is admitted in both New York and Florida. She has authored or assisted in the preparation of a number of articles and chapters on employee benefits and executive compensation matters.
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