14 pages. Excerpt: This letter comments on the issues companies are facing currently with regard to executive compensation in light of events in 2009, and notes items intended to create discussion around what companies and directors should be thinking about in 2010 relating to executive compensation design and governance. As in previous year-in-review letters, we also summarize key Alert letters issued throughout 2009 beginning on page 6, and provide a list of all Alert letters issued in 2009 at the end of this recap, all of which are accessible via our website at www.fwcook.com.