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About: One-dollar salary     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Whole100003553, within Data Space : dbpedia.org associated with source document(s)

Type: yago:WikicatAmericanPeopleOfWorldWarIIyago:WikicatCanadianPeopleOfWorldWarIIyago:CausalAgent100007347yago:LivingThing100004258yago:Object100002684yago:Organism100004475yago:Person100007846yago:PhysicalEntity100001930yago:YagoLegalActoryago:YagoLegalActorGeoyago:Whole100003553 New Facet based on Instances of this Class

A number of top executives in large businesses and governments have worked for a one-dollar salary. One-dollar salaries are used in situations where an executive wishes to work without direct compensation, but for legal reasons must receive a payment above zero, so as to distinguish them from a volunteer. The concept first emerged in the early 1900s, where various leaders of industry in the United States offered their services to the government during times of war. Later, in the late 1990s and early 2000s, many business executives began accepting one-dollar salaries—often in the case of struggling companies or startups—with the potential for further indirect earnings as the result of their ownership of stock.