Goldman Sachs Trades Cash Bonuses for Stock Restrictions

Goldman Sachs, the Wall Street firm often at the center of outrage over multibillion-dollar employee compensation practices, said today that its top 30 managers will receive no cash for their 2009 bonuses and instead be awarded stock that can't be sold for five years. The stock, Goldman said, can be "clawed back" -- taken back by the firm -- if it is determined that the executive took excessive risks. Historically, these managers would have received more than half of their year-end...Full Story
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