UPDATE 2-Commerzbank introduces claw-back option on bonuses

* New compensation system for top two levels of management

* Share awards to be paid out after three years

* Bonus system to include claw-back option

(Adds further details, background)

By Edward Taylor

FRANKFURT, Nov 10 (Reuters) - Germany's Commerzbank (CBKG.DE) will introduce a claw-back option to its bonus system next year as the banking industry aims to stop the short-term risk-taking that helped bring about the financial crisis.

The bank, 25 percent owned by the German state after an 18 billion euro ($30 billion) bailout, is responding to public outrage over the eye-popping payouts made to bankers who mainly worked at the bank's loss-making investment bank.

Although regulators and politicians broadly agree that risk-hungry behaviour by highly paid bankers was one of the main causes of the crisis, they have struggled to agree on how to regulate or cap bonuses.

Unicredit (CRDI.MI), Morgan Stanley (MS.N) and UBS AG (UBSN.VX) have responded to political pressure by overhauling their bonus systems to include claw-back options. Deutsche Bank (DBKGn.DE) has said it will look at introducing such a measure.