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1、外文文献翻译译文原文ExecutivePayAuthor：Lavelle,Louis，Jespersen,FrederickF，Ante,Spencer，Kerstetter,JimSuggesttoEdwardW.Barnholt,CEOofAgilentTechnologiesInc.,thathiscompanyhadaless-than-stellar2002,andyou'llgetlittleargument.AfterspinningofffromHewlett-PackardCo.in1999,justast
2、hedot-combubblewasstretchingthin,Barnholthasseenthe$6billionSiliconValleytechcompanylaidlow.In2002,salesweredown28%,thestockwasoff35%,andAgilentposteda$1billionloss.SowhenitcametimefortheboardtodecideBarnholt'spay,hepaiddearly,witha10%cutinhisbasesalary,to$925,000,
3、andnobonusorrestricted-stockgrantforthesecondconsecutiveyear.Hisoldoptionsweren'tmuchuse,either.The750,000optionsthathereceivedlastyearhavebeenunderwateralmostsincethemomenttheyweregranted.SaysBarnholt:``Idon'texpectanythingdifferent.Ifthecompanydoesn'tperform,Isho
4、uldn'tbegettinganyrewards.''StorieslikeBarnholt'smarkashiftinthewayrewardandpunishmentaremetedoutatthehighestlevelsinCorporateAmerica.Payfortopchieftainsdeclinedbydoubledigitsforthesecondyearinarowin2002,theresultofabrutalbearmarketthatguttedmuchoftheiroptionwealth
5、androbbedmanyofseven-figurebonuses.Theresult:CEOpayisbacktowhereitwasin1996.Paypackagesin2002declined33%,to$7.4milliononaverage,accordingtoBusinessWeek's53rdannualExecutivePayScoreboard,compiledwithStandard&Poor'sExecuComp.``There'snoquestion:Compensationcommittees
6、aretakingaveryhardlookatthecompensationofseniorexecutives,''saysDanL.Goldwasser,amemberofthepaypanelatForestLaboratoriesInc.LongtimeForestCEOHowardSolomonreceivesonlyamodestsalarydespiteoutstandingperformance,thoughasurgingstockhelpedhimtorealizebiggainsin2001whenh
7、eexercisedoptions.Ofcourse,averagescanbedeceptive.Whathasreallybeenwrungoutofthesystemistheexcessattheverytopofthescale.Inlastyear'sranking,OracleCorp15.CEOLawrenceJ.Ellisonsetarecordwitha$706.1millionpaydayafterheexercisedabigstashofoptions.Thisyear,thehighest-pai
8、dexecclockedinatjust$194.9million.Lastyear,thetopsevenexecsonourpayscoreboardbrokethe$100millionbarrier;thisyear,onlytwodid.Thenumberswerealsoske
