Goldman Sachs said it plans to pay top managers their 2009 bonuses in stock, rather than cash. The plan, announced on Dec 10., applies to its 30-person management committee.

Those managers will receive all of their discretionary compensation in "shares at risk" -- stock that must be held for five years. They will also face a stricter claw-back provision that allows the company to recoup pay should employees later be found to have engaged in improper risk-taking.

• Goldman release