A tax law introduced in 1993 that prohibits a publicly held corporation from taking a deduction for compensation paid to an executive in excess of $1 million per year, unless the compensation is linked to productivity.
A merit increase is an increase in wages achieved through superior performance on the job. It is also known as merit pay or a merit raise, and is commonly specified as negotiable in contracts between unions and management.
Regular compensation received by an employee as a condition of employment. Salaries comprise basic wage, performance-based pay, and indirect fringe benefit compensation, typically computed on an annual basis.
