EXS Manufacturing has agreed to pay CEO Joe Marcellicompensation in 2004 of $200,000 plus 15% of...
Homework Answers
Compensation = 200,000 + 15% of company profits
Compensation in 2003 = 200,000 + (15%*4,000,000) = 800,000
Compensation in 2003 = 200,000 + (15%*6,000,000) = 1,100,000
Company profit is going up from 4 million to 6 million, an increase of 50% whereas compensation is increasing by 0.8 million to 1.1 million, an increase of 37.50%, so the compensation amount seems reasonable.
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