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Interim Final Rule on Executive Compensation Restrictions for TARP Recipients (PDF)
Buck 
[Guidance Overview] June 23, 2009 7 pages. Excerpt: On June 10, 2009, the Treasury Department issued an interim final rule on the executive compensation restrictions for companies receiving federal assistance under the Troubled Asset Relief Program (TARP). Among other things, the regulations establish a Special Master, prohibit tax gross-ups, require adoption of an excessive or luxury expenditures policy, expand clawback provisions, place additional prohibitions on bonuses and incentive compensation for senior executive officers and certain highly compensated employees, and implement more rigorous requirements for companies receiving 'exceptional financial assistance.' MORE >> |
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