By Aug 25, 2009, 3:53 PM 

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.”

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