Financial firms work with Feinberg on pay plans

08/13/2009 | Wall Street Journal, The

Seven firms that received state aid have until Friday to submit their plans for compensation to Kenneth Feinberg, the Treasury official overseeing pay practices. Feinberg does not have the authority to reject existing contracts, but he does oversee future compensation for each firm's 100 highest-paid employees. Feinberg's authority is influencing compensation structures at at least some of the firms.

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