This report reviews the impact of excise tax gross-up provisions on potential change-in-control termination payments for S&P500 companies. RiskMetrics Group’s (“RMG”) analysis of the most recent proxy statements of companies in the S&P500 index as of July 1, 2008, suggests that excise tax gross-up provisions substantially increase parachute payments, thereby contributing to excessive compensation packages for departing executives. (21 PP.) |
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