POLITICS

Stimulus Package Contains Strict New Restrictions On Executive Pay

03/16/2009 05:12 am ET | Updated May 25, 2011

The stimulus package Congress was poised to pass tonight imposes new restrictions on executive compensation that could erase multimillion dollar pay packages on Wall Street.

The bill, which President Barack Obama is expected to sign into law Monday, limits bonuses of executives at all financial institutions receiving government funds to no more than a third of their total annual compensation. The bonuses must be paid in company stock that can only be redeemed once the government investment has been repaid.

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