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In the wake of this unprecedented financial crisis, there has been a public outcry for greater accountability for executive compensation. This year, shareholders from over 100 companies requested the right to vote on compensation paid to the company’s executives. These votes, known as “say on pay” votes, have gained further momentum as the year has progressed. When the federal government passed its financial stimulus package earlier this year, it mandated that recipients of the troubled asset relief funds provide “say on pay” votes to shareholders. Since then, a number of bills have been introduced into Congress that would require “say on pay” votes for all public companies.

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