There is a push to make boards more diverse but people without large corporate salaries, such as academics, would be reluctant to become directors without guaranteed payment.

They said they would buy her house, then build her a brand-new bigger house with a wheelchair ramp and pay for her health care for the rest of her life. It just blew me away.

When they presented the offer, I about fell out of my chair.

What you have is a payoff when there's poor performance. But that's the nature of contracts. There's such a tremendous risk these days with being a CEO of a major corporation.

What you have is a payoff when there's poor performance, ... But that's the nature of contracts. There's such a tremendous risk these days with being a CEO of a major corporation.

Oftentimes, executive [pay] tends to rise at a slightly higher rate. All categories have been pretty even.