the New York Stock Exchange and the Nasdaq Stock Market have imposed requirements on their listed companies with respect to how they
are expected to determine executive officers’ compensation and have promulgated
various rules relating to the establishment and composition of compensation committees,
the purposes of such committees and procedures that they are expected to follow
in discharging their duties. This issue of the Business Counselor Advisor summarizes changes in those listing requirements and outlines other areas that counsel should consider when advising companies on forming and operating compensation committees.