Tyco and Eversheds overhaul relationship and end bonuses
Tyco has signed up Eversheds for another two-year stint as its sole panel adviser across Europe, the Middle East and Africa (EMEA), with the company scrapping all performance-related fee elements from the expanded deal. The manufacturing and engineering group has overhauled the terms of the mandate, axing all reference to performance-related targets and bonuses applying to improving diversity, client satisfaction levels and reducing litigation.
Pioneering Tyco deal shifts from bonus system to fixed fees
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