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Supplemental Bonuses
New York's Sullivan & Cromwell LLP plans to pay counsels and senior associates (fifth-year level and up) bonuses tied to the firm's financial performance. According to a mid-September internal memo, the new bonuses will be paid in addition to those lawyers' base salaries and normal year-end bonuses.
The memo stated that the 2007 pool was currently anticipated to be around $2.5 million but that the final amount would be determined in February 2008 based on factors including the firm's financial results and its overall activity level.
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