"Sears sets Edward Lampert’s salary as CEO at $1" Associated Press, March 22, 2013
NEW YORK — The billionaire hedge fund manager will be paid an annual base salary of $1, but with the opportunity for a bonus of up to $2 million in cash or stock and up to $4.5 million in stock per year.
A number of companies have given their top leaders a salary of $1 during tough times to demonstrate their commitment to a turnaround. Some are then also rewarded through performance-based bonuses....
Related: Sears reports bigger-than-expected 1Q loss
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