Sentences with phrase «modified lockstep»
Legacy Berwin Leighton Paisner (BLP) partners are losing the UK firm's modified lockstep pay system with immediate effect as a result of its merger with Bryan Cave, which will see all partners paid on a hybrid system more closely aligned with the US firm's structure.
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Paul, Weiss uses another method, a modified lockstep model, because they understand that keeping top talent under the plain lockstep method is difficult.
Nearly all of Shoosmiths» salaried partners (92 %) chose to make the move into the equity, which operates as a modified lockstep with an additional merit element including both fixed - share and full - equity partners.
The new programme changed the previous performance - emphasised compensation system into a modified lockstep, which encourages partner collaboration and centralises firm resources.
The union, which went live on Wednesday (1 May), will see the firm adopt Dickinson Dees» two - tier partnership rather than Bond Pearce's three - tier structure, with the merged firm to operate a full equity and junior equity rank with a modified lockstep.
The largest group — 40 % — said their firms operate modified locksteps allowing partners to be moved up or down or held based on their individual performance.
Not exact matches
Last summer, the management team started investigating ways in which it might modify its partner remuneration scheme in order to reduce the number of highly paid partners sitting at the top of this 25 - point lockstep.