GOODWIN PROCTER — SPECIAL BONUSES 2020
Last month, I communicated to you that the firm will recognize your significant efforts over the extended, remote-work period. Today, I am pleased to share the details about these special, one-time bonuses. These special bonuses will be paid as part of the December pay cycle to eligible associates who are employed on the payment date, and are in addition to the annual January ARC bonuses.
The special bonuses will be paid to all U.S. associates in good standing according to the following scale:
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|
Class |
Associates below 1850 hours |
Associates at or above 1850 hours |
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|
2019 |
$2,500 |
$7,500 |
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|
2018 |
$2,500 |
$10,000 |
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|
2017 |
$5,000 |
$20,000 |
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|
2016 |
$5,000 |
$27,500 |
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|
2015 |
$5,000 |
$32,500 |
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|
2014 |
$7,500 |
$37,000 |
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|
2013+ |
$7,500 |
$40,000 |
For purposes of calculating the 1850-hours threshold for the special bonus, the firm will take the higher of (a) your fiscal year 2020 hours (made up of billable hours, pro bono hours, legal services on behalf of the firm, and shadow training under the firm’s shadow training policy); and (b) your annualized hours for the period May through October 2020. In this way, we are trying to recognize those of you who have worked hard over the past few months even if your hours were negatively impacted by market forces in 2020. To be eligible for this special bonus, you must have been employed at the firm on or before August 31, 2020. Bonuses will be pro-rated based on part-time or partial year status, including leaves of absence. The hours threshold for the annual ARC bonus that will be paid in January will remain at 1950 ARC hours (made up of billable hours, pro bono hours, legal services on behalf of the firm, and shadow training under the firm’s shadow training policy.)
Thank you for your continued hard work on behalf of and commitment to our clients during these challenging times. If you have any questions, please contact Laura Baron – Director, Compensation.
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