On August 14, 2006, the New York office authored an Alert Memorandum entitled, “Final Executive Compensation Disclosure Rules.” This eight-page memo discusses the release the SEC published on August 11, 2006, adopting substantially as proposed final rules for disclosure by U.S. companies of executive and director compensation, related person transactions and certain governance matters. We have summarized in the attached memorandum the key objectives of the new compensation disclosure rules and changes from the proposal.