Executive Compensation Under TARP

     WASHINGTON (CN) – The Department of Treasury has established the Office of Special Master for Troubled Asset Relief Program Executive Compensation to review and approve compensation payments and compensation structures for the senior executive officers and highly compensated employees of TARP recipients.

     The rules prohibit a TARP recipient from paying or accruing any bonus, retention award, or incentive compensation during the TARP period to executive employees. They also limit annual compensation to $500,000 excluding accrual of long term restricted stock.
     The TARP recipient’s amount of financial assistance determines the number of employees subject to this prohibition up to the twenty-one most highly compensated employees of any TARP recipient that has received $500 million or more.
     

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