Is incentive pay a violation of the principle

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Consideration can serve as a strong motivator. At least this is what a newly founded shareholder forum believes. The forum was formed to monitor the salaries of top corporate executives, especially CEOs, by matching those salaries with the executive's incentive package, which includes the corporation's latest list of objectives and the number or the percentage of those objectives that the executive must meet tot receive incentive pay. The goal of incentive pay is to motivate top executives to do more than sit in the CEO's office from 9:00 to 5:00 each day. Is incentive pay a Violation of the principle that says that preexisting duties cannot be used a consideration in a new contract? Explain [See: Gretchen Morgenson, "Hear Ye, Hear Ye: Coralling Executive Pay," The New York Times, June 17, 2007, sec3, pp. 1 and 8.]

Reference no: EM131281350

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