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Employment contracts are communications between the Board and the CEO. They describe facts, amounts, consequences, conditions, and time periods. They can also convey sentiments – to wit, an expression by the board of its appreciation for and desire to retain their CEO. One aspect of...

A recent ArtNet news article about the “whopping” compensation of Glenn Lowry, MOMA’s Director, quoted me as saying “It's a nonprofit but it's also a business. The board is paying him because they think he's worth it." Nonprofit executive compensation is a newsworthy issue. There are...

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