"U.S. citizens who are employed by, or serve as directors of, non-U.S. entities can incur significant tax penalties (regardless of where they live) if compensatory arrangements violate Section 409A....Common provisions that make an arrangement subject to Section 409A include the requirement to pay the executive severance upon termination, or the ability of the executive to quit and be entitled to separation pay upon a change-of-control.... If the document failure is found now, it can be corrected on or before December 31, 2015, and if no change-of-control occurs before December 31, 2015, the correction will not entail a penalty or additional tax."  MORE >>