AB576-AA20,1,3
3"(am) The borrower enters into the agreement under sub. (3m).".
AB576-AA20,1,6
5"
(3m) Compensation agreement. (a) An eligible borrower shall enter into an
6agreement with the authority that includes all of the following provisions:
AB576-AA20,1,107
1. No officer or employee of the eligible borrower who received total
8compensation in the year 2000 in excess of $300,000 may receive, during the first 2
9years of the loan term, annual compensation in excess of the amount of the
10compensation that he or she received in the year 2000.
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2. No officer or employee of the eligible borrower who received total
12compensation in the year 2000 in excess of $300,000 may receive, during the first 2
1years of the loan term, severance pay or other benefits in excess of 2 times the amount
2of the compensation that he or she received in the year 2000.
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3. After the first 2 years of the loan term and while collection of any of the loan
4principal is guaranteed under this section, the total compensation of any officer or
5employee of the eligible borrower who received total compensation in the year 2000
6in excess of $300,000 may be increased each year by no more than the average
7percentage change in the consumer price index for all urban consumers, U.S. city
8average, for the calendar year ending on the preceding December 31, as computed
9by the federal department of labor.
AB576-AA20,2,1310
(b) If an eligible borrower fails to comply with any of the provisions under par.
11(a), the eligible borrower shall be required to pay to the authority 10% of the original
12principal amount guaranteed under this section with respect to the eligible
13borrower.".
