This Client Alert provides an overview of the executive compensation and corporate governance provisions of two recent pieces of legislation that are the most relevant and possibly have the greatest chance of gaining traction, H.R. 4173, the Wall Street Reform and Corporate Protection Act of 2009, and Senator Dodd's Bill, the Restoring American Financial Stability Act of 2010. A table providing a detailed summary of the executive compensation and corporate governance provisions of these bills follows this Client Alert (Table 1). The Client Alert also discusses issues companies should consider if two provisions, say on pay and election of directors by majority vote, become law.
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