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In 1999, Dechert unveiled a retention bonus program in which the firm set aside $50,000 of its investment in a high-flying Internet client. Associates and counsel who were still there on Sept. 15, 2003 would get a bonus equal to their prorated share of the investment. Back then, such a plan had to be seen as a big perk. But the client's stock value tanked, leaving attorneys with the news this week that they will each get a grand total of ... $15.50.
January 23, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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