Associate Bonus Watch: 'Special' Bonuses at Fish & Richardson

Who says “special bonuses” are so 2007? Earlier this week, we reported that Irell & Manella paid supplemental bonuses to its associates that took total bonuses to twice the Sullivan & Cromwell scale.
Today we bring you the news that another firm, intellectual property powerhouse Fish & Richardson, is also going the extra mile on bonuses. From an FR attorney:

Fish & Richardson announced “special” bonuses [last week]. Basically $10K for non-equity principals and $2K for paralegals and administrative staff…. This is on top of the regular bonuses, which is made up of an “hours” component (certain amount of guaranteed bonus per 100 hours billed) and a “merit” bonus.

With all of this added up, some associates’ bonuses blow the Cravath scale out of the water. Happy New Year indeed!

The full memorandum, from president Peter J. Devlin, after the jump.


Devlin’s memo below alludes to “challenges” faced by the firm last year. And it does seem like 2009 wasn’t the easiest year for Fish: the firm conducted some layoffscolor>, and it also closed its Austin office.
But it sounds like the good times are back at Fish. Expect Harpdrygal V to be a blast this year!
FISH & RICHARDSON — MEMORANDUM — SPECIAL BONUSES
The challenges we have faced together this year were unprecedented in the history of the firm, and as 2009 comes to a close, I am happy to report to you all that Fish & Richardson is stronger than ever, and is well positioned for success in 2010 and beyond. The equity principals would like to show our appreciation for your hard work and dedication to the firm and our clients this past year by paying all non-EP legal staff employees (associates, technology specialists, counsels, senior principals and tier 1 principals) in good standing a special bonus of $10,000, and all paralegals and administrative staff employees a special bonus of $2,000. These payments will be processed today, though I understand from Alison that direct deposits may not be available until January 6th.
Thank you all again, and Happy New Year. PJD
Earlier: Associate Bonus Watch 2009

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