McKOOL SMITH — MEMO — SPECIAL BONUSES
TO: Associates/Senior Counsel/Principals
FROM: Board of Directors
DATE: April 5, 2021
RE: Special Bonuses
On behalf of the Board of Directors and the Shareholders, we want to thank each of you for your continued dedication and hard work, all of which contribute to the Firm’s success. Your collective efforts during the pandemic are deeply appreciated and are part of what has allowed our Firm to continue providing outstanding client service during these challenging times.
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To reflect your hard work during this unprecedented time, we are pleased to announce special bonus payments to all on-track associates who remain in good standing and are employed with the Firm on the date of each payout. Bonuses will be paid in June and November of 2021, by class year as set forth below. In order to receive the scheduled bonuses, associates must meet a minimum of 1950 billable hours for calendar year 2021, prorated as of June 1 and November 1, 2021, respectively. The hours will also be subject to any applicable prorations for start dates and leaves. Any associates who miss the hours minimum as of June 1 and November 1 but catch up by year’s end, will be made whole as part of their year-end-bonus.
The bonuses are in addition to any year-end bonus and will not impact our usual year-end bonus process for associates.
For Senior Counsel, Of Counsel, and Principals, any special bonuses provided by the Firm will be assessed as part of the year-end bonus process.
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The Board and the Shareholders thank you for all you do for our clients and for McKool Smith.
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