Tyco Sets Policies on Executive Pay
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From Bloomberg News
Tyco International Ltd., a conglomerate once criticized for its executive pay packages, adopted limits on severance and change-in-control agreements to improve the company’s corporate governance.
Senior executives also will be required to retain a minimum percentage of shares awarded under pay plans and to hold certain amounts of the Bermuda-based company’s common stock.
Shares of Tyco rose 9 cents to $18.87 on the NYSE.
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