FACTBOX: Details of new U.S. restrictions on CEO pay

(Reuters) - President Barack Obama imposed tough new rules on Wednesday to rein in excess spending by companies that receive federal bailout money, capping executive compensation at $500,000 a year and limiting lavish severance packages paid to top officials.

Here are main elements of the restrictions:

FOR COMPANIES GETTING EMERGENCY FINANCIAL ASSISTANCE

* Senior executives limited to $500,000 in total annual compensation plus restricted stock awards.

* Any pay over $500,000 must be in restricted stock or a similar long-term incentive arrangement. The senior executive will only be able to cash this in after the government has been repaid or after a specified period of time/requirements have been met.

* Senior executive compensation structure must be submitted to a nonbinding shareholder resolution, or "say on pay."

* The top 25 senior executives will be subject to a provision to claw back bonuses and incentive compensation if they are found to have given inaccurate information regarding their own incentive pay. Previously just the top 5 executives were subject to this provision.

* The number of top executives who are banned from receiving any golden parachute payment upon severance from employment is expanded to include the top 10 senior executives. In addition, the next 25 executives will be prohibited from receiving any payment greater than one year's compensation upon severance from employment.

* The boards of directors must adopt a company-wide policy on excessive or luxury expenditures related to aviation services, office renovations, entertainment and holiday parties.

FOR COMPANIES GETTING GENERALLY AVAILABLE GOVERNMENT AID

* Senior executives will be limited to $500,000 in total annual pay plus restricted stock unless waived by public disclosure and, if requested, a "say on pay" shareholder resolution. All firms must review and disclose reasons that pay arrangements of executives and other employees do not encourage excessive, unnecessary risk taking.

* Same clawback provision as that imposed on companies receiving emergency aid applies.

* Upon severance, the top five senior executives will not be allowed a golden parachute payment greater than one year's compensation. Previously the golden parachute cap was set at three years' compensation.

* Same requirement for luxury expenditures as that imposed on companies receiving emergency aid.

(Reporting by Deborah Charles; editing by David Wiessler)