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Highlights of Treasury Department Guidance on Executive Compensation Restrictions in the Emergency Economic Stabilization Act of 2008
McGuireWoods 
[Guidance Overview] Oct. 21, 2008
Excerpt: On October 15, 2008, the Treasury Department ... issued four pieces of guidance implementing the executive compensation restrictions contained in the Emergency Economic Stabilization Act of 2008 (EESA). In general these restrictions apply only to senior executive officers of financial institutions which sell troubled assets through auction or direct purchase to the Department under the Department's 'Troubled Asset Relief Program' (TARP). The Department's authority to purchase troubled assets under TARP became effective October 3, 2008 and will expire on December 31, 2009, unless extended until a date no later than October 3, 2010 (the 'TARP Effective Period').
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