In the world of executive compensation, public companies often get more attention, given the size of compensation packages and the publicity that shareholder organizations such as ISS can generate to challenge compensation “say on pay” votes. But private entities deliver a broad range of significant compensation, whether it involves arrangements with partners, in the case of partnerships, or members, in the case of LLCs, in a wide variety of businesses—hedge funds, private equity firms, asset managers, law firms, and accounting firms. The compensation issues arising in this context are different, and some recent case developments in this area are worth noting.