UK Services for Multinational Employers

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1 UK Services for Multinational Employers May 2013 Pinsent Masons takes a comprehensive and integrated approach to advising clients around the world on employee matters from rights and risks to rewards and retirement. We can provide strength in depth, with experienced teams of lawyers covering these areas, throughout the UK, with colleagues across our international offices and through trusted advisers in our network. We would be delighted to discuss with you this range of services spanning employment law, pensions, taxation, share plans and other benefits. Share Plans Pinsent Masons is a leading adviser on employee share plans and incentives. Our highly specialised team is led by lawyers who are independently recognised experts. Our team, which has a strong tax base, is at the forefront of innovation and thinking in this area. We are founder members of the Global Equity Organisation (visit the GEO website at: We act for a broad range of multinational and listed companies on share incentive and remuneration planning, including innovative long-term incentive plans, all-employee share plans and employee trusts. We advise private and venture capital-backed companies on appropriate employee ownership structures which suit their commercial requirements. They may be looking at employee share incentives at all levels or may be concentrating on incentives for the most senior people. We also advise other law firms, accountancy practices and benefits consultants on all matters regarding share plans. Extending the share plan of a European listed company to more than 290,000 employees in over 55 countries Advising a service provider on the legal aspects of administering an international plan Advising a UK plc on its equity incentives, including international all-employee plans, in the context of a rights issue Advising a UK plc on extending its equity-based incentives (including phantom plans) to employees in 18 countries within a tight timescale of 2 months from start to finish Conducting a review for a manufacturing sector client of the implications of extending a number of different executive share plans to employees in 21 jurisdictions, including assisting with establishing an extranet for the company to view all the overseas advice and incorporating house style employee tax paragraphs Pre-flotation share plans advice for a support services client in over 14 countries and 5 continents, including local qualified broadly based plans and discretionary plans tailored for different jurisdictions and commercial circumstances Advising a UK listed company on grants to executive directors resident overseas, including in the US and UAE Advising a Middle East based company on the structuring of a long-term cash incentive plan Advising a US listed company on recruitment of a UK tax resident director Advisng a US company in relation to technical tax and NICs issues on operating an equity incentive plan with UK participants, both before and after flotation Advising two US listed companies on their requirements to file prospectuses under the EU Prospectus Directive in relation to the operation of their share plans in the UK and Europe; advising several others on how to avoid the need for filing Advice and assistance on a wide range of management and employee share incentive plans for both private corporates and portfolio companies of private equity funds, including a Lloyds approved insurance broker in Hong Kong with operations in China, Hong Kong, Australia, New Zealand and the UK an international trading and sourcing company, headquartered in Hong Kong with offices in China, the United States and the UK a major Asian retail chain.

2 Employment In a recent Chambers Client Survey in the UK, our Employment Group was confirmed as employment law adviser of choice to both FTSE 100 and FTSE 250 companies. We have also been praised by clients as client focused (Legal 500). We are able to provide genuine national coverage together with the ability to advise on employment issues that have an international perspective, coordinating cross-border advice for all our clients employment needs. The Employment Group has a leading reputation in employment law issues, in particular relating to business transfers and outsourcing, with advice being given daily on a range of issues generally associated with them. These include major reorganisations and restructurings, transfers of businesses into and out of the UK and informing and consulting with employee representatives. Advising on employment aspects of two large corporate transactions, including coordinating employment advice on the transactions in England, India, New Zealand and France Arranging and project managing advice to a major hotel and leisure company on redundancies /restructuring throughout 13 jurisdictions Advising a global energy company on a strike at adjacent premises which impacted significantly on their production Advised a Japanese company on the employment issues associated with the purchase of a manufacturing and engineering business with sites in the UK, Germany and Poland Successfully defending a 3 million claim brought by trade unions in relation to a multi national client following a major restructuring/redundancy exercise Advising a major global plc in Northern Ireland on union negotiations and ballots on pay and changes to terms and conditions and redundancy policy Dealing with all types of business immigration to the UK for international employees and their family members, including applications for permission to work under the points-based system Advising a global services company on the impact on business change of the involvement of its European works council and local works councils. Employment Law + In addition to our advisory role, we also offer a comprehensive suite of services which provide clients with a complete knowledge management solution. These include: Training services Our award winning training service is provided by lawyers who are trained to train. We run both public and in-house training courses on a range of employment law issues. Employment Weekly Briefing Our weekly briefing provides commentary on the week s employment law related news and hot topic issues in the HR and employment works. HR Network TV Our award winning programmes can be viewed on your PC via our website, keeping clients up-to-date in an easy to access format. HR Network Seminars These free events take place at our UK offices and are short presentations usually held over breakfast, which cover employment law topics. Knowledge Management Services we provide a range of bespoke knowledge management services which include sector specific briefings, monthly technical legal updates, trend spotting briefings and horizon watching information. Our Employment Law + Website

3 Pinsent Masons UK Services for Multinational Employers Tax Issues and Mobile Workers The tax team also advises clients on the wider aspects of an employment relationship, including structuring an attractive package to attract high fliers, helping companies with issues arising from their expatriate workforce and dealing with the tax issues on termination of employment. Advising a UK entrepreneur relocating to US/Cayman on securing break in UK residence and tax-efficient structuring of employment arrangements going forward Advising on employment law, share plans and tax issues arising from appointment of a UK plc s new CEO (previously head of US division) including advice on likely UK tax treatment and structuring to mitigate exposures/risks Advising an international hotel group on tax, pensions, immigration and contract drafting issues on assignment of project staff from the Far East to work on establishment of new hotel Advising a global manufacturing company on UK tax issues arising on recruitment of a new CEO and the minimisation of his liabilities. Particular issues arose from the CEO s truly global working pattern and in avoiding UK residence/ordinary residence Advising a university on employment tax issues/structuring arising from relocation of professor to US, but continuing to perform duties for the UK University (including advice on residence status and interaction of UK/US tax treaty) Advising an international distributor on the secondment of an employee to a Chinese subsidiary, including advice on whether/how the employee could break UK residence, and structuring to maximise reliefs under tax treaty whilst also working around Chinese regulatory requirements Advising a US investment bank on equity participation for UK employees Working alongside a UK law firm to provide advice on the UK employment related securities laws in the context of a French flotation, with equity plans proposed to be extended to the UK Working alongside a US law firm to provide back up on technical issues in relation to their own advice to a major US bank on remuneration and equity remuneration issues. Pensions Pinsent Masons has one of the strongest pensions teams in the UK, dedicated to providing clear, practical and cost-effective advice for our clients. Legal directories consistently rate our Pensions team as one of the very best in the country. With the globalisation of plan sponsors and increasing regulation in the UK, we are seeing employers and trustees looking to provide for UK pension arrangements outside the UK. Companies offering arrangements within the UK may be looking at a wider range of pension products as a result of the decline in the provisions of salary-related company sponsored arrangements, and we can advise across the board on appropriate arrangements. Advice to a multinational client on compliance with UK auto-enrolment regulations for mobile workers Offering a choice of jurisdiction service for UK plan sponsors who wish to move their pension scheme outside the UK Advising an overseas parent on the merger of 9 of its UK pension schemes to a master trust Establishing a cross-border pensions annuity Advice on benefits administration for an offshore international pension scheme Advising on the implications of the powers of the UK Pensions Regulator to non-uk companies and individuals Advising a multinational on an off-shore pension plan for its non-uk domiciled employees Advising on pension issues and cross-border matters arising on restructuring UK subsidiaries.

4 International reach Pinsent Masons gives access to the combined knowledge of over 2,500 staff in 15 international locations. In areas where we do not have a local presence, we work closely with specialist correspondent law firms with whom we have established relationships. Munich Paris Istanbul Beijing Doha Dubai Shanghai Hong Kong Singapore Aberdeen Glasgow Belfast Falklands Edinburgh Leeds Manchester Birmingham London Pinsent Masons Offices Our reach Europe We cover all three UK jurisdictions, with offices in London, Edinburgh, Glasgow, Manchester, Leeds, Aberdeen, Birmingham and Belfast. We also have offices in Paris and Munich, and we continue to expand across continental Europe. Asia-Pacific We work closely with colleagues across Asia in Hong Kong, Shanghai, Beijing and Singapore. More than 70 lawyers based in these offices operate across the Asia-Pacific region, including in Macau, Malaysia, Thailand, Indonesia, the Philippines, Taiwan, Vietnam, Japan, Laos, Cambodia and Korea. Gulf Pinsent Masons has been established in the Gulf since 2004, and working in the region for the last 30 years. From our offices in the UAE and Qatar, we offer the full range of legal services to meet the needs of one of the fastest growing markets in the world. India We provide an international counsel service on projects relating to India. For those clients with regular business operations in India, our associations with leading law firms provide access to first class day to day Indian legal services. We are ranked as a leading foreign law firm by India Business Journal and Asialaw.

5 Who to Contact Judith Greaves T: +44 (0) M: +44 (0) E: Lynette Jacobs T: +44 (0) M: +44 (0) E: Matthew Findley T: +44 (0) M: +44 (0) E: Karen Davidson Legal Director T: +44 (0) M: +44 (0) E: This note does not constitute legal advice. Specific legal advice should be taken before acting on any of the topics covered. Pinsent Masons LLP is a limited liability partnership registered in England & Wales (registered number: OC333653) authorised and regulated by the Solicitors Regulation Authority and the appropriate regulatory body in the other jurisdictions in which it operates. The word partner, used in relation to the LLP, refers to a member of the LLP or an employee or consultant of the LLP or any affiliated firm of equivalent standing. A list of the members of the LLP, and of those non-members who are designated as partners, is displayed at the LLP s registered office: 30 Crown Place, London EC2A 4ES, United Kingdom. We use Pinsent Masons to refer to Pinsent Masons LLP and affiliated entities that practise under the name Pinsent Masons or a name that incorporates those words. Reference to Pinsent Masons is to Pinsent Masons LLP and/or one or more of those affiliated entities as the context requires. Pinsent Masons LLP For a full list of our locations around the globe please visit our website: