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Discretionary bonuses used as incentives by investment banking and law firms are not wages subject to the protection of state labor laws, the New York Court of Appeals ruled. The Court said the state legislature narrowly defines wages as "the earnings of an employee for labor and services rendered," a definition that excludes profit-sharing arrangements based even partially on the performance of a firm.
October 17, 2000 at 12:00 AM
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The original version of this story was published on Law.Com
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