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White Paper: Stimulus Act Imposes Corporate Governance and Compensation Mandates Feb. 16, 2009 (CCH) Companies are only now discovering some of the strings that are attached to government aid under the Troubled Assets Relief Program (TARP). CCH Principal Securities Law Analyst Jim Hamilton, JD, has authored a new white paper, Stimulus Act Imposes Corporate Governance and Compensation Mandates, bringing together the wide range of new restrictions placed on companies participating in TARP by provisions in the just passed American Recovery and Reinvestment Act of 2009. “The executive compensation restrictions were inserted into the stimulus legislation by Senate Banking Committee Chair Christopher Dodd. The restrictions are more stringent than those recently promulgated by the Treasury, setting up conflicting regimes,” Hamilton said. In the white paper, Hamilton details the many provisions that now attach to the receipt of TARP funds: compensation and incentive restrictions; a shareholder advisory vote on executive pay; requirements for the compensation committee; retroactive compensation reviews; repayment of TARP funds; governance and compensation standards; luxury expenditures; and acquisition losses. 2009 SmartPros Ltd. All Rights Reserved. |
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