Locke

Thanks to a poster over at Greedy–Texas, below is the full Locke scale for years 1-8, including the deferred compensation package.

Compensation for Associates in Texas Offices:
Class Base Deferred Total
2006 $ 160,000 $ – $ 160,000
2005 $ 170,000 $ – $ 170,000
2004 $ 172,500 $ 15,000 $ 187,500
2003 $ 175,000 $ 35,000 $ 210,000
2002 $ 180,000 $ 50,000 $ 230,000
2001 $ 185,000 $ 65,000 $ 250,000
2000 $ 190,000 $ 65,000 $ 255,000
1999 $ 195,000 $ 65,000 $ 260,000

The deferred portion of the compensation will be payable at year-end only to those associates who work at least 2000 billable hours for the year. No deferred amount will be payable to those associates who work less than 2000 billable hours. For this purpose, billable hours will include up to 100 hours of pro bono work which has been approved by the Firm for credit.

All amounts indicated above are annualized amounts. For 2007, the deferred amounts will be pro rated so that associates meeting the performance target will earn 5/12ths of the deferred amounts set forth above.

We will continue to evaluate our year-end merit-based bonus program in light of changing market conditions. In view of the increased base and deferred amounts, the lower tier bonus amounts will likely be eliminated.

The mid-level and high-level bonus amounts will likely remain, with the performance targets consisting of 2200 hours for the mid-level bonus and 2400 hours for the high-level bonus. As in the case of the performance target for the deferred amounts, the performance targets for the year-end bonuses will take into account up to 100 hours of pro bono work approved by the Firm for credit.

Thx to Greedy–Texas

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