Attorneys specializing in executive compensation are hearing from banking and finance executives forced to sign waivers of any right to challenge reductions in pay or benefits required when banks accept federal bailout money. Robert Wild, a partner in the corporate practice in Katten Muchin Rosenman's Chicago office, believes that some institutions are considering applying the restrictions more broadly than required. "The idea is spreading that this ought to be applied throughout the ranks," he said.
Bailout Triggers Exec Pay Worries
The National Law Journal
January 23, 2009