Question

Title VII of the _____________ states that top executives in companies receiving government support can retract bonuses, retention awards, or incentives paid to the top five senior executive officers or the next 20 most highly compensated employees based on corporate information that is later found to be inaccurate.

a. Pay for Performance Act (2009)
b. Equal Pay Act (1963)
c. American Recovery and Reinvestment Act (2009)
d. Sarbanes Oxley Act (2002)

Answer 1

Title VII of the American Recovery and Reinvestment Act of 2009 states that top executives in companies that received government support can retract bonuses, retention awards paid to the top five (5) senior executive officers or the next twenty (20) most highly compensated employees based on corporate information that is latter found to be inaccurate. Such provisions are done to ensure that correct and appropriate monetary incentives and awards are given to personnel who truly serve and deserves such compensation.