Executive Compensation After the Boom: A Guide for Canadian Public Companies in 2009

Canadian public companies and their boards have a number of significant issues to consider and address as we enter a new year, including increased investor and regulatory scrutiny.  The market turmoil and economic slowdown that gripped the economy in 2008 also continues to run its course. 

In the face of these and other significant challenges, it is time again for public companies to address issues associated with the annual proxy season.  Executive compensation is again in the spotlight, partly on account of the significant disclosure reforms adopted by the Canadian Securities Administrators effective for the 2009 proxy season, and partly on account of increased public awareness of compensation issues such as executive clawbacks, pay-for-performance and golden parachute or change of control payments fuelled in part by the failure of financial firms south of the border.

We have prepared this guide to help navigate through these issues.  Part 1 of this guide includes a discussion of the various elements available in designing compensation packages for Canadian executives as well as market developments and other issues relating to these elements. Part 2 highlights current trends in executive compensation and their impact on compensation decisions. 

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