Washington (July 9, 2004) -- With executive compensation emerging as a top corporate governance issue in the 2004 proxy season, former Securities and Exchange Commission chair Harvey L. Pitt recommended that companies put a "substantial" portion of a chief executive’s pay in an interest-bearing escrow account, compensate senior executives with restricted stock, and limit the use of stock options to new or junior employees.

In his latest column for Compliance Week, Pitt, founder of Kalorama Partners, offered tips for assuring that company executives are "worth their salt."

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