Citigroup (C), BofA (BAC), and AIG are forging new employment contracts that let them void compensation agreements if they are challenged by the U.S. government, according to a person familiar with s ome recent contracts. According to excerpts of contracts obtained by Reuters, banks recently began inserting clauses stating that the pacts are subject to the approval of the government’s “pay czar.”
By editor Aug 25, 2009, 3:53 PM
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