Bloomberg: Spending Bonus Cash Becomes Risky as Clawbacks Spread

Bloomberg: Spending Bonus Cash Becomes Risky as Clawbacks Spread

January 8 2010

Clawbacks have been a “silent partner” of some employment agreements since the Sarbanes-Oxley Act of 2002, which stipulated that chief executive and chief financial officers could have their bonuses taken back due to financial restatements or misconduct, said Steven Hall, managing director of New York-based Steven Hall & Partners, an executive compensation consulting firm.