Charities Fear New Pay Limits Will Hurt Executive Donations

Now nonprofit leaders, especially in and around New York's financial hub, are worried these big donors could feel squeezed further amid government edicts to limit pay packages.
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The economic stimulus package President Barack Obama is expected to sign Tuesday includes a measure barring any firms that have received federal bailout money from paying top earners bonuses exceeding more than one-third of their total yearly compensation. The measure also empowers the Treasury Secretary to "claw back" previous bonuses in certain instances if they're deemed excessive. It remains unclear exactly how the rules will be implemented, raising questions about corporate America's future compensation practices.