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In December 1999, Dechert announced a special retention bonus program for its associates in which the firm's policy committee set aside $50,000 of its investment in high-flying client Internet Capital Group. The plan called for all associates and counsel still employed on Sept. 15, 2003 to receive a bonus equal to their prorated share of the investment. But, ICG's stock value tanked with the dot-com economy leaving the firm with only $2,744.42 to divide among 177 attorneys, each of whom will receive $15.50.
January 26, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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