Claims and Bad Faith Law Blog: Contractual, Systemic Safeguards on Big Pay For No Performance.

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November 04, 2008

But Do Not Discount Common Law and Equitable Remedies.

Contractual, systemic safeguards on big pay for no performance by corporate executives is a true "hot-button issue". It will not go away. Various safeguards under general discussion include absolute caps on pay, and so-called "clawback provisions" under which corporate executives contractually agree that they can be "forced to give some of the money back" if they make large amounts of money even as their companies do not. The situation is discussed by Andrew Ross Sorkin, "Dealbook/Rein In Chief's Pay? It's Doable" p. B1, col. 1 (New York Times Nat'l Ed., Business Day Section, Tuesday, Election Day, November 4, 2008).

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Claims and Bad Faith Law Blog