Response to naaman fletcher (Reply #9)
Tue Feb 26, 2013, 12:50 PM
geek tragedy (40,276 posts)
10. Um, no.
First, it's useful to clarify: Jack Lew didn't get a "bonus" for leaving Citigroup to go to the public sector. There was no extra money involved. Instead, by taking a high-ranking government job, Lew simply got to keep the bonus money he had already been paid. Several other circumstances would have allowed him to keep that money even if he left Citigroup. They included "a significant reduction in your title/function or responsibilities" and "a relocation of your principal place of employment to a location that is not within a commutable distance in the New York City area." All that was notable about Lew's contract is that it put acceptance of "a full-time high level position with the United States government or regulatory body" on the list of circumstances under which it was okay for him to leave without forfeiting his bonus.
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