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Kirkland & Ellis' appointment of a Fried Frank Harris Shriver & Jacobson senior partner will set the firm back $9m (£5.6m) over three years, as part of an astounding guaranteed profits deal.
The Lawyer can reveal that Stephen Fraidin, the legendary New York corporate partner who left Fried Frank just before the much-anticipated merger vote with Ashurst Morris Crisp, will earn $3m (£1.9m) per year for his first three years at Kirkland.
It is understood that Fraidin's agreement with Kirkland will award the lawyer a significant premium, above what he earned at Fried Frank.
According to sources, Fraidin would have taken home around $2.3m-$2.5m (£1.4m-£1.6m) a year while at Fried Frank, as he was one of the firm's elite group of 'super-pointers'.
It is believed that Kirkland operates a modified lockstep, but also has a number of salaried partners.
Fraidin is well known for his association with high-profile clients, such as leveraged buyout giant Forstmann Little & Co.