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"We had a number of guaranteed compensation contracts".
State wage laws and compensation contracts typically prohibit such moves.
Mr. Wendt came aboard with one of the most generous compensation contracts in corporate history, worth at least $75 million.
That money would not be returned if the option remained under water, not in the toughened compensation contracts that Mr. Jensen would write.
Mr Mack spent a lot on legal talent and settlements to protect the firm, but he eliminated the most costly compensation contracts and got rid of more than 20% of the employees.
While House leaders were calling for immediate legislation to recoup payments, Senate Democrats sent a letter to Mr. Liddy demanding that A.I.G. renegotiate the employees' compensation contracts and return the bonuses.
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Let's also add in workers whose jobs were covered by a union or employee compensation contract, even if they did not personally report a union affiliation.
Mr. Stucker's co-counsel on that compensation contract was Joseph Bachelder, 68, who some experts say made executive compensation negotiations a distinct specialty -- and his trademark -- after he started working in the field in 1980.
Under the terms of Mrs. Wachner's compensation contract, in the calculation of her bonus, "extraordinary charges" may be excluded from earnings with the approval of the board's compensation committee, Warnaco says.
Executives of the insurer ACE Ltd. said yesterday that they would seek dismissal of a lawsuit brought by Connecticut's attorney general accusing the company of paying kickbacks to secure a state workers' compensation contract.
Federal law makes it a crime for anyone "who directly or indirectly promises any employment, position, compensation, contract, appointment, or any other benefit" to someone else "as consideration, favor, or reward for any political activity or for the support of or opposition to any candidate or any political party in connection with any general or special election to any political office".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com