Jay W. Waks, Partner in the Litigation Department of the New York office and Chair of the Employment & Labor Law practice, spoke at the Executive Pay seminar of the Association of the Bar of the City of New York on November 9, 2010. Kenneth Feinberg, the Obama Administration’s Pay Czar, keynoteed this year’s program. Mr. Feinberg provided his singular perspective on the lessons learned about executive pay practices and discuss the reasoning behind and impact of his most significant decisions and recommendations as Special Master for Compensation of the U.S. Treasury Department. Mr. Waks and a panel of leading practitioners joined Mr. Feinberg and discussed the Dodd-Frank Act, today’s governance and regulatory environment, and globalization of executive pay practices. The panel addressed the trickle down effect of Mr. Feinberg’s decisions, the best practices and emerging trends in the development of individual compensation agreements, the design of company wide pay practices, and hot-button pay issues under Dodd-Frank such as whistleblower protections, clawbacks, parachutes and shareholder approval. Messrs. Feinberg and Waks were honored at an off-premises reception immediately following the City Bar program.
November 9, 2010