The Obama administration has appointed Kenneth R. Feinberg Compensation Czar; giving him the responsibility of setting the salaries for 175 executives at the nation’s seven largest companies who received government bailout funds.
As one of the main clauses in an executive employment agreement, having the salary set by a government official will affect negotiations for both the employees and employers in these top companies. Many of these corporations are wondering just how far into their executive employment agreements and workings the government intends to intrude upon.
An Executive Employment Agreement is a legal document entered into between an employer and an employee at the commencement of the period of employment and stating the exact nature of their business relationship, specifically what compensation the employee will receive in exchange for specific work performed.
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