FACTBOX-U.S. House legislation on executive pay

July 28 (Reuters) - The U.S. House Financial Services
Committee has approved legislation that would impose new curbs
on executive pay. Here are the bill's main provisions:

* Gives shareholders of publicly held companies the right
to an annual, non-binding vote on executive compensation;

* Gives shareholders the right to vote on special pay
arrangements, such as golden parachutes, for executives in
mergers, acquisitions or other changes in corporate control;

* Requires members of corporate compensation committees to
be independent of management;

* Requires compensation consultants or other advisers to
compensation committees to be independent;

* Empowers regulators to ban pay structures at financial
institutions covered under the legislation that encourage
"inappropriate risks" threatening the institutions' safety and
soundness or the economy and financial stability.

For a story on the committee approving the bill, see
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(Reporting by Kevin Drawbaugh; Editing by Neil Stempleman)